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The introduction of the e-valuator and e-invoicing for import and export by the Central Bank of Nigeria (CBN) has been described by the President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Lucky Amiwero, as a violation of the Customs and Excise Management Act (CEMA).
Amiwero revealed this in a letter dated January 29, 2022, addressed to CBN Governor Godwin Emefiele.
The industry expert contended that the new system is in breach of the Customs and Excise Management (amendment) Act 20 of 2003 on the valuation of goods, and the Customs and Excise Management Act C 45 of 2004 for the procedure of import regulation and export.
What Amiwero is saying about the CBN policy
According to him, the valuation of goods in Nigeria was prescribed under CEMA 20 of 2003 (as amended), which gave the power of treatment, process, procedures, and determination of the valuation of goods under the Act based on the domestication of the World Trade Organisation (WTO) under GATT Articles IIV.
Amiwero further contended that under Section 36 and 57 of the Customs and Excise Management ACT C 45 of 2004, the Minister of Finance has the authority to issue import and export recommendations.
He said these are the only legal instruments for the treatment, procedure, and application of imported goods in Nigeria, as well as the regulation of importation into the country by sea, air, and land borders.
According to him, the CBN does not have the authority to change the law on import valuation or the rule on the method for issuing import and export instructions, especially since its primary responsibility is monetary policy in relation to exchange rates.
The use of benchmarks for importation and exportation, according to Amiwero, is in violation of CEMA 20 of 2003 (as amended). He claims that benchmarks are unacceptable because they are treated according to the Brussel definition of value (BDV), which is illegal worldwide.
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