Customs, CBN yet to agree e-valuation, e-invoice
The Nigeria Customs Service (NCS), on Thursday, said it has not reached any agreement on e-valuation and e-invoicing of import and export with the Central Bank of Nigeria (CBN). The report of the purported agreement between the service and CBN has gone viral on social media. Reacting to the news, the service said there was […]
CBN governor, Godwin Emefiele
The Nigeria Customs Service (NCS), on Thursday, said it has not reached any agreement on e-valuation and e-invoicing of import and export with the Central Bank of Nigeria (CBN).
The report of the purported agreement between the service and CBN has gone viral on social media.
Reacting to the news, the service said there was no truth in it and urged members of the public, particularly importers to dismiss the report with the wave of the hand. Invoice receipt template.
A statement signed by the National Public Relations Officer of the service, Deputy Comptroller, Timi Bomodi, revealed that the report is incorrect.
He said the service still stands by its earlier submission on the matter, as was clearly communicated to the House of Representatives Joint Committee on Customs and Excise, Banking and Currencies on March 3, 2022.
“It has come to our attention that there are reports, suggesting the Nigeria Customs Service (NCS) has acquiesced to the introduction of the e-valuator and e-invoicing for import and export businesses in Nigeria by Central Bank of Nigeria (CBN).
“We wish to state that this is incorrect. The service still stands by its earlier submissions on the matter, as was clearly communicated to the House of Representatives Joint Committee on Customs and Excise, Banking and Currencies on 03 March 2022.”
He said CBN in a letter dated 8 July 8, 2021, informed Customs that they were deploying a mechanism for verification of prices of goods before allocation of forex at the point of e-form M registration. The policy in summary seeks to benchmark the price of imported and exported cargo.
“The move has raised objections from critical stakeholders within and outside the industry who have expressed valid concerns that require critical considerations.
“The practice world over is to domicile adjudication on Customs values for import and export within the Customs administration of every country,” he said.