The Nigeria Customs Service, NCS, has expressed deep appreciation for the pivotal role played by stakeholders in the formulation and adoption of the Nigeria Customs Service Act ,NCSA, 2023.
This landmark legislation, which replaces the Customs and Excise Management Act, CEMA, is the outcome of extensive collaborations with industry experts, government bodies, and other key players.
In a statement issued on Wednesday, Abdullahi Maiwada, the Assistant Comptroller of Customs and National Public Relations Officer, highlighted the significant contributions of stakeholders in the creation of the Nigeria Customs Service Act, NCSA, 2023.
He emphasized that their input was crucial in shaping a legal framework focused on improving efficiency and transparency.
Maiwada added that the collaborative efforts have laid the foundation for a more innovative and effective customs system, positioning Nigeria to better compete in the global market.
The NCS described the Act as a critical response to the dynamic challenges of modern trade, ensuring that customs operations meet global standards.
As part of the new law, the NCS also introduced a 4% charge on the Free On-Board value of imports, which includes both the cost of goods and transportation expenses incurred up to the port of departure.
READ ALSO :Â Customs set for African Volleyball Championship
This fee, in accordance with Section 18 (1) of the NCSA 2023, is deemed essential for optimizing the Service’s operations and maintaining sustainable revenue management.
At the same time, the NCS acknowledged concerns raised by stakeholders about the continued collection of the 1% Comprehensive Import Supervision Scheme fee, which funds the Destination Inspection Scheme.
In response, the Service reassured the public that thorough consultations with the Federal Ministry of Finance are ongoing to address these concerns effectively.
Under the leadership of Comptroller General Bashir Adewale Adeniyi, the NCS reaffirmed its commitment to promoting transparency, ensuring fair trade, and enhancing revenue management.
The Service called on stakeholders to support the NCSA 2023, noting that the measures introduced reflect a well-balanced approach, informed by feedback from industry participants, importers, and regulatory authorities.
With the implementation of the NCSA 2023, the NCS is poised to revolutionize Nigeria’s customs framework and elevate the nation’s standing in the global trade arena.
Crediblenewsng.com
