21 November 2008
Consequent upon its transparent performance and experience in the non-oil export, Messrs Cobalt International Services Limited, a pre-shipment inspection agent, has been appointed by the Federal Government to inspect crude oil in addition to the inspection of non-oil exports from Nigeria.
A circular by the Central Bank of Nigeria (CBN) reads that "unauthorised dealers and the general public are hereby notified that the Federal Government of Nigeria has ratified the appointment of Messrs Cobalt International Services Limited for pre-shipment inspection of oil exports in Nigeria with effect from November 1, 2008."
The circular, which was issued by the CBN Acting Director, Trade and Exchange Department, Mr. Batari Musa, ordered all authorised dealers, Nigerian Customs Service, Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR), all oil companies as well as the public to comply with the new directive.
In addition, the CBN appointed two banks, Ecobank and Unity Bank, to join other banks to service the operations. "Cobalt International shall inspect crude oil, in addition to the inspection of non-oil exports. Consequently, all sections/sub-sections that indicate oil and gas stand amended accordingly," the CBN said.
The CBN said the payable fee of 0.15 per cent stated in section 5 of the circular under reference is now 0.1 per cent of the assessed Free On Board (FOB) value of crude oil cargo.
The NNPC and the independent crude oil exporters are to pay the same 0.1 per cent of the assessed FOB value of crude oil exports as fees into the new account opened for oil and gas exports.
Cobalt International Services is a pre-shipment inspection agent with 30 years experience in independent inspection and quality control of products, both dry goods and bulk liquid cargoes.
The company has extensive experience in Nigeria, Ghana, the Republic of Benin, Liberia, Cote d'Ivoire, Cameroun and Angola.
Cobalt undertakes inspections in checking the quantity, quality and pricing of goods, and attesting to whether or not they comply or conform with those specified under the contractual agreem
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