Nigeria: Govt Removes Major Barrier for Exporters

17 February 2009

Abuja — The Federal Government has removed the bank guarantee requirement for exporters, giving them unfettered access to Negotiable Duty Credit Certificates (NDCCs) in a bid to encourage export and stimulate the non-oil sector of the economy.

The NDCC, also known as Export Expansion Grants (EEG), enables an exporter to offset part or whole of the Customs and Excise duties payable to the government.

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