CBN to sanction exports without Export Proceeds Number

CBN to sanction exports without Export Proceeds Number

The Central Bank of Nigeria, CBN, has threatened to sanction exporters who ship out goods without Nigerian Export Proceeds (NXP) numbers.
Governor of CBN, Godwin Emefiele, disclosed this during a virtual meeting, where he noted many shipping companies do not comply with the Federal Government directives that such shipments carry NXP number. The meeting was attended by representatives of some shipping lines in the country.

Emefiele said: “We are going to set up an auto system, where if someone wants to send cargo, copies of the NXP form will be sent directly to you. So, that if you don’t have it online on your system where the NXP has been registered, you turn back that cargo.
“You cannot accept any number and use it as a basis for shipping. We are not going to allow that. That is not acceptable. If you don’t see NXP Forms, that cargo should be turned back.”

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