Tony Chukwunyem The Central Bank of Nigeria (CBN) has read the riot act to shipping and airline companies over their non-compliance with regulations requiring that “Bills of Lading/Airway Bill in respect of exports from Nigeria carry the Form NXP in respect of the underlying cargoes.”
The apex bank also said that it observed that the companies had not been complying with its regulation that mandates electronic processing of Form NXP on the Trade Monitoring System(TRMS). It reminded the companies that they were required to access the “TRMS platform to generate Form NXP numbers for capture on the Bill of Lading for export cargoes.”
The CBN said severe sanctions, including, “refund of the forex value of goods illegally exported as well as Post-No-Debit on all bank accounts nation wide” would be meted out to the companies that do not comply with the directive.