Nigeria: Customs Agents Move Against New Exchange Rate Policy

25 July 2016

The National Council of Managing Directors of Licensed Customs Agents (NCMDLCA) has called for an immediate suspension of implementation of the new exchange rate, insisting it contravenes the Central Bank of Nigeria (CBN) monetary, credit, foreign trade and exchange policy guidelines.

In a petition to the Minister of Finance, Mrs. Kemi Adeosun, signed by NCMDLCA's National president, Lucky Amiwero, the association requested that the guideline for the Central Bank, the Federal Ministry of Finance Import guideline and the grace period should apply to importation in line with the provision of the law and principle of international best practice.

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