NACCIMA boss advised Customs to charge import duties in naira instead of in dollars that the agency currently use.
During an interview on Arise TV News Night, he faulted the frequent changes in the FX rate for customs duties payment.
As of March 30th, imports duties stands at ₦1,303.84/$, a significant improvement to the over ₦1,400/$ in February.
The Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), has advised the Nigeria Customs Service (NCS) to charge import duties in naira instead of in dollar that the agency currently use.
NACCIMA President Mr. Dele Oye stated this during an interview on Arise TV News Night, where he faulted the frequent changes in the FX rate for customs duties payment.
Speaking further, the NACCIMA boss charged the Federal Government to lead by example by conducting business in Naira instead of foreign currencies, adding that it does not work anywhere in the world.
He said :
“Government must not be seen to be making money off trade. Customs is a trade facilitation unit and the customs has no business charging the FX index rate.
“We should use the Form M rate which is a percentage of it and that is what you should use. If government is saying it believes in naira, it must charge in naira for its services.
“We don’t have a dollar problem, we have a naira problem. The government should show by its own actions that it must conduct its business in Naira.
“Why are you saying people should do business in naira, but you are calculating your customs duties in FX? This kind of thing does not work anywhere in the world.”
As of March 30th 2024 (today), the Nigerian Customs imports duties sits at ₦1,303.84 per dollar, which is a significant improvement to the over ₦1,400 per dollar early in February.