CBN to Sanction Exporters Over NXP Numbers

Nigerian Export Proceed

By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has disclosed plans to sanction exporters who ship out goods from the country’s shores without Nigerian Export Proceed (NXP) numbers.

This was disclosed by the Head, Public Relations of Nigeria Shippers Council (NSC), Mrs Rakiya Zubairu Bello, explaining that this was part of the council’s efforts to work with other agencies of government to ensure full compliance so that exports without the NXP are discontinued.

This came as the apex bank and the shippers’ council, during a virtual meeting with the heads of foreign shipping companies, condemned their refusal to adhere to the federal government’s directive on exported cargoes.

The CBN said it had discovered that several shipping companies were at fault of non-compliance with the federal government directive and threatened strict sanctions on erring shipping companies.

Speaking at the meeting, the Governor of the CBN, Mr Godwin Emefiele said: “We are going to set up an auto-system, where if someone wants to send cargo, copies of the NXP form will be sent directly to you. So that if you don’t have it on your system that the NXP has been registered, you turn back that cargo.

“You cannot accept any number and use it as a basis for shipping. We are not going to allow that. That is not acceptable. If you don’t see NXP Forms, that cargo should be turned back.”

The Executive Secretary of the shippers’ council, Mr Hassan Bello, equally lamented non-compliance of shipping lines regarding the directive of the Federal Government that all export goods leaving the country should have NXP numbers.

He said that the council in partnership with the CBN has carried out 3 sensitization meetings in Lagos and Port Harcourt to educate shipping companies and exporters on the need to implement the directive on the NXP.

NXP is a mandatory document to be completed by all exporters through authorized dealer banks for shipment of goods outside Nigeria irrespective of the value and whether or not payment is involved. Any customer willing to engage in export business is required to register with the Nigeria Export Promotion Council (NEPC).

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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