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CBN knocks airline and shipping firms over non-compliance with form NXP

The CBN has threatened severe sanctions for non-compliance with the processing of Form NXP.

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The Central Bank of Nigeria (CBN) has announced its displeasure over the lackadaisical attitude of airline and shipping companies toward the provisions of the circular referenced TED/FEM/FPC/GEN/01/009 dated June 06, 2017.

Which circular, mandated the bills of lading/airway bills emanating from the aforementioned sectors in cognizance of exports from Nigeria to carry the form NXP number with respect for the underlying cargoes.

READ: Agriculture: CBN’s revised policy on the dairy industry    

The disclosure is contained in a recent circular sent by the CBN, dated October 06, 2020, signed by the Director of Trade and Exchange Department, Dr O.S NNAJI and referenced TED/FEM/FPC/GEM/001/008.

In the recent disclosure, the CBN revealed that despite earlier provisions for electronic processing of form NXP on the Trade Monitoring System (TRMS) and entreaties to the concerned firms to do the needful, the compliance to the order has been appalling and grossly abused.

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READ: CBN: Banks no longer allowed to sack more than 5 staff without approval

Recall that in an earlier circular referenced TED/FEM/FPC/GEM/01/003 dated October 28, 2019, CBN had made the processing of the form NXP quicker, more efficient and improved through introduction of a compulsory electronic processing for the form accessible at the TRMS site.

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In lieu with the above-mentioned provisions and efforts and the high rate of non-compliance recorded so far, CBN has however, announced stricter measures and fines as a way of enforcing compliance.

READ: CBN automates trading system, introduces electronic form to facilitate exports 

In the latest CBN circular, the options of severe sanctions for non-compliance is not ruled out. A part of the latest circular read thus;

Consequently, all shipment of export cargoes from Nigeria shall with effect from the date of this circular be in accordance with the aforementioned procedures.

READ: Depositors of Post Service Homes Savings and Loans Limited soon to be paid – NDIC

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“For the avoidance of doubt, it shall be a breach of extant regulations for any shipping company or airline company to take on-board any cargo for which form NXP is not duly completed and approved on the TRMS platform, failing which severe sanctions shall be meted out for such breach, such sanctions shall include refund of the forex value of goods illegally exported as well as Post-No-Debit on all bank accounts Nationwide.

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Just-in: #EndSARS: GTBank on Admiralty, Lekki allegedly on fire

A GTBank branch was allegedly set ablaze by some hoodlums that disguised as #EndSARS protesters.

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GTBank’s branch on Admiralty Way, Lekki has been allegedly set ablaze by some hoodlums that disguised as #EndSARS protesters.

This was disclosed by eyewitnesses around the affected branch via their respective social media accounts on Tuesday.

 

Details soon …

 

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#EndSARS: Lagos orders investigation of Lekki Toll Plaza shooting

The Lagos State Government has ordered an investigation into the alleged shooting of #EndSARS protesters at Lekki toll gate.

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Lagos State Government has ordered an investigation into the Lekki Toll Plaza shooting that was allegedly done by some men of the Nigerian Army on Monday evening.

This was disclosed in a statement issued by the Commission of information and Strategy, Gbenga Omotoso, and shared via the state’s Twitter handle.

It stated, “There have been reports of shooting at the Lekki Toll Plaza, following the 24-hour curfew imposed on Lagos State to stop criminals, who hid under the #EndSARS protests to unleash mayhem on innocent citizens.

“The State Government has ordered an investigation into the incident.

“Governor Babajide Sanwo-Olu has advised the security agents not to arrest anyone on account of the curfew, which he urges residents to observe for the peaceful atmosphere we all cherish.”

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According to the statement, Governor Sanwo-Olu advised Lagosians to remain calm and not allow criminals, who have hijacked the noble protest of our gallant youths, to succeed in their evil plan of turning our dear state upside down.

Omotoso assured that the Governor will do everything within his power to ensure that the lives of all Lagosians are protected at all times.

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Back story: Nairametrics had reported that the Lagos State Government announced the imposition of a 24-hour curfew in all parts of the state, with effect from 4 pm, which was later shifted to 9pm Tuesday, October 20, 2020.

This is due to the raging #ENDSARS protests and demonstrations in the state which has been hijacked by criminals and hoodlums with attacks on innocent citizens and destruction of properties.

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Update: US embassy shuts down consulate in Lagos over violent #EndSARS protests

The US Embassy in Nigeria has announced closure following violent clashes in many parts of the country.

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The United States embassy and consulate in Nigeria, has announced the shutting down of its consulate in Lagos State for two days with effect from Tuesday, October 20, 2020, due to the ongoing nationwide #EndSARS protest which has been hijacked by hoodlums, with several properties destroyed and lives lost.

This was disclosed in a statement to American citizens, issued by the US embassy and consulate in Nigeria, on Tuesday, October 20, 2020.

This is also coming after the Lagos State Government declared a 24-hour curfew due to the outbreak of violence across the state during the protests.

The US embassy and consulate in its statement said,

Multiple demonstrations are ongoing across Nigeria – to include areas within the consular districts of Abuja and Lagos. Although most demonstrations are peaceful, some have become violent and have shut down major thoroughfares and bridges.

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“Some police stations have been targeted. Lagos State closed all schools indefinitely as of October 19, due to protests and implemented a 24-hour curfew starting at 4:00 p.m. on October 20. Consulate General Lagos is closed for the rest of today and tomorrow.”

In the statement, the US embassy advised all its citizens in Nigeria to avoid areas around protests and demonstrations, check local media for updates and traffic advisories, continue to be vigilant and avoid areas affected by the protests.

It also urged their citizens to take the following actions, avoid the areas of the demonstration(s), exercise caution if unexpectedly in the vicinity of large gatherings or protests, keep a low profile, be aware of their surroundings, monitor local media for updates and review the travel advisory for Nigeria.

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