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CBN urged to monitor commercial banks over false import declaration




A Non-Governmental organization under the aegis of the Social
Integrity Network, (SIN), on Tuesday commended the Central Bank
Governor, Mr. Godwin Emefiele, for giving adequate support to the
Local Manufacturer in order to stabilize their businesses.

The group also urged the CBN to regulate and monitor the commercial
banks who maybe behind the economic sabotage affecting
industrialization through aiding and abetting smuggling and false
declaration of imported items.

The Spokesman of the group, Mallam Ibarhim Issa, stated this in Kaduna
while speaking to pressmen. He noted that, “It is saddening to note
that the Pre-Shipment Inspection that was cancelled during the tenure
of the former Comptroller of Customs, Alhaji Dikko Inde Abdullahi, has
further paved ways for bandwagon effects.”

According to him, “We want to categorically ask that, was the
cancellation approval granted by the President and Commander-In-Chief,
by the leadership of the National Assembly, by the Attorney-General
and Minister for Justice or by their personal decision?

“It is on record that the manufacturers have being clamouring for the
return of Pre-Shipment Inspection but unfortunately, no attention has
been given to their request while many companies that have been found
to be culpable in this regard are yet to be sanctioned. Destination
Inspection imposed is full of corruption due to lack of efficiency and
transparency in the exercise.”

He however stressed that, “It would be recalled that recently, we all
woke up to a widely spread news reports by a group under the
Manufacturers Association of Nigeria, (MAN). i.e Galvanised Iron and
Steel Manufacturers Association, (GISMA) with the alert of planning to
lay off 20,000 workforces into the labour market.

“The 30 days warning alert was given due to the collapse of some
sectors of Nigeria economy precipitated by massive smuggling of
substandard products into Nigeria, targeted at collapsing the local

“However, our investigation has revealed that smuggled substandard
steel products have flooded every nooks and crannies of Nigeria
thereby subjecting local manufacturers to serious economic and social
investment misfortune. This is the main reason why the huge sums of
money voted to combat insecurity is yet to manifest while many
Nigerians are dying on daily basis.

“Gentlemen of the press, we think it is worthwhile that a national
debate be organized for experts to give their opinions on the
Pre-Shipment Inspection cancellation while we urge the leadership of
the 9th National Assembly to quickly investigate this action before it
collapses Nigeria’s economy.”

“The Federal Government should urgently engage the Standard
Organization of Nigeria to defend the many allegations against it by
the manufacturers and give detail accounts of how substandard roofing
sheets are finding their ways into the Nigerian markets despite the
MANCAP and SONCAP fees imposed on importers and exporters.”