NACCIMA suggests collecting import duty in Naira following the ban on forex collaterals.
NACCIMA, led by President Dele Oye, emphasizes the need for duties collected by the Nigeria Customs Service to be in Naira, not foreign currency. They express uncertainty about the Fiscal Policy objectives following the CBN’s directives and advocate for timely release of the 2024 Fiscal Policy. Oye highlights the impact of monetary policy directives on market stability but stresses the importance of complementary Fiscal policy direction. The association urges government transactions to be in the sovereign currency of Nigeria and calls for the release of the Presidential committee report.
