Clearing agents grumble over spike in exchange rate

Abiola Seun & Chinazor Megbolu |

The Federal government has adjusted the exchange rate for clearance of cargoes at the seaports from N326 to N361.

It was gathered that the exchange rate which was adjusted by the Central Bank of Nigeria (CBN) is already being implemented by the Nigeria Customs Service (NCS).

Speaking to journalists, the National Vice President, Association of Nigerian Licenced Customs Agents (ANLCA), Kayode Farinto said the adjustment started yesterday.

According to him, the adjustment will discourage importers from clearing their cargoes out of the various seaports across the country during the Covid-19 pandemic.

He said, “I noticed that it has been difficult to make declarations and I realised that the exchange rates has increased from N326 to N361 to a dollar.

“The issue now is that how can the government behave like this despite the fact that customs brokers are taking the highest risk to come to the ports as essential workers to move the economy forward. I call on leaders in the industry to prevail on the federal government to jettison this move as it may discourage the importers and the agents from taking cargo out of the seaports.

“Also, we need to maintain status quo for now because you will all agree with me that the oil sector has fallen but the government can still manage to continue to grow the economy with whatever she makes in the maritime sector.

“The Central Bank has been in the habit of not carrying people along in this country while the management of Nigeria Customs Service behaves autonomous.

“Finally, looking at the behaviour of the customs service amid the Covid-19 pandemic, the service is not ready to change its modus operandi even though we suggested that section 28 of CEMA act be invoked to reduce human contact but was rebuffed by them but we won’t hesitate to advise our members to stay at home and not risk their lives should things continue like this,” he threatened.

Also speaking, Godfrey Nwosu said the adjustment and swift implementation is an act of insensitivity on the part of the government.

He said, “Government increased the exchange rate for customs duty/ tariff effective today (Thursday) from N326 per dollar to N361and has computed same which has reflected on import declaration assessment for import duty without due consultations with relevant stakeholders, invariably duty has gone up. This is insensitivity on the part of Government.”

When contacted, the National Public Relations Officer of the Nigeria Customs Service, Joseph Attah said the service is not responsible for the adjustment of exchange rate.

“Customs doesn’t adjust government exchange rate, we only implement government policies,” he said.

Editing by ‘Biodun Soyele