Nigeria Threatens to Sanction Shipping Companies for Not Complying With Export-Related Requirement
The Central Bank of Nigeria said it will sanction international shipping and airfreight companies for noncompliance with a 2017 directive related to bills of lading and airway bills, the Hong Kong Trade Development Council said Oct. 27. The directive requires…
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all exports to carry “Nigerian Export Proceeds (NXP) form numbers” on their bills, the report said. Nigeria said it recently completed an audit of shipping companies that showed several businesses were not complying with the order, adding that it will impose “severe sanctions” for continued noncompliance, HKTDC reported. The country also plans to issue guidance to help industry better “verify the authenticity of NXP form numbers submitted.”