The National President of the Association of Nigerian Licensed Customs Agents, Mr Tony Nwabunike, has blasted management of the Nigerian Customs Service over what he described as quick implementation of the new customs exchange rate.
Nwabunike disclosed this to Financial Street on Wednesday, stressing that the move will impact negatively on trade and members of the association.
The Central Bank of Nigeria had few weeks ago increased the exchange rate for cargo clearance from N381/$1 to N404.97/$1, following a devaluation of the official exchange rate in order to merge the currency’s multiple exchanges.
The ANLCA helmsman also frowned at Federal Government’s incessant change of exchange rate through the CBN.
According to him, the quick implementation of new customs exchange rate will not work.
“The process would have been seamless if port stakeholders, especially freight agents, were carried along in order for them to notify the authorities about the actual reality and how such policy affects trade,” Nwabunike lamented.
