Monitor commercial banks over false import declaration, group urges CBN

A non-governmental organisation, the Social Integrity Network has urged Central Bank of Nigeria to monitor activities of commercial banks to ensure that they are not abetting smuggling and false declaration of imported items.

The group, while commending the CBN Governor, Mr. Godwin Emefiele, for giving adequate support to local manufacturer to stabilize their businesses, lamented “the economic sabotage affecting industrialization through aiding and abetting smuggling”, which they ascribed to some of the commercial banks in the country.  

Spokesman of the group, Malam Ibrahim Issa, told business correspondents on Tuesday in Kaduna that, “it is saddening to note that the Pre-Shipment Inspection that was cancelled during the tenure of former Comptroller of Customs, Alhaji Dikko Inde Abdullahi, has further paved ways for bandwagon effects.

“We want to categorically ask that, was the cancellation approval granted by the President and Commander-In-Chief, by the leadership of the National Assembly, by the Attorney-General and Minister of Justice or by their personal decision?

“It is on record that the manufacturers have being clamouring for the return of Pre-Shipment Inspection but unfortunately, no attention has been given to their request while many companies found to have been culpable in this regard are yet to be sanctioned. The Destination Inspection imposed is full of corruption due to lack of efficiency and transparency in the exercise.”

Issa however stressed that, “recently, a group under the Manufacturers Association of Nigeria, (MAN) i.e Galvanised Iron and Steel Manufacturers Association (GISMA) gave alert of plans to layoff 20,000 workers into the labour market. The 30-day warning alert was precipitated by massive smuggling of substandard products into Nigeria targeted at collapsing the local manufacturers.

“Our investigation revealed that smuggled substandard steel products have flooded every nooks and crannies of Nigeria thereby subjecting local manufacturers to serious economic and social investment misfortune. This is the main reason why the huge sums of money voted to combat insecurity is yet to manifest, while many
Nigerians are dying on daily basis.

“We think it is worthwhile that a national debate be organized for experts to give their opinions on the Pre-Shipment Inspection cancellation, while we urge the leadership of
the 9th National Assembly to quickly investigate this action before it collapses Nigerian economy totally. 

“The Federal Government should urgently engage the Standard Organization of Nigeria to defend the many allegations against it by the manufacturers and give detailed accounts of how substandard roofing sheets are finding their ways into the Nigerian markets despite the MANCAP and SONCAP fees imposed on importers and exporters.”

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