NAGAFF President greets Christians, Urges Members to Adapt to New Import Duty Exchange Rate

By: Joy Enamuna

The President of the National Association of Government Approved Freight Forwarders (NAGAFF), Chief Tochuwku Ezisi, has advised his members to promptly incorporate strategies into their business plans to adapt to the new Central Bank of Nigeria (CBN) adjusted import duty exchange rate, which decreased from ₦1,405/$ to ₦1,364/$.

In a telephone interview with Chief Ezisi on Thursday morning, he expressed concerns about the continuous increase in the import duty exchange rate since last year. He stated, “I have been deeply worried for the past few months and uncomfortable with the Federal Government’s daily increase in import duty exchange rate. However, it has not been beneficial for our economy as we remain heavily import-dependent.”

Chief Ezisi shared his relief, saying, “I felt some relief when my stock exchange manager informed me that the exchange rate had decreased from ₦1,405/$ to ₦1,364/$. Shippers are grateful, but like Oliver Twist, we appeal to the Federal Government to further reduce this exchange rate to help clear backlogs of cargoes at the ports and prevent them from becoming overdue.”

“Every time I witness shippers’ cargoes being auctioned due to non-payment of statutory fees and cargoes becoming overdue, someone is suffering, either from heart attacks or being forced out of business. Although some mistakes and delays in cargo clearance are caused by Terminal Operators, Shipping Companies, and Government agencies, we will endure until sanity is restored.”

Chief Ezisi also extended Easter greetings to NAGAFF members and all freight forwarders. He encouraged everyone to contemplate the death and resurrection of Jesus Christ during this challenging economic period in Nigeria, assuring them that it is temporary.

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