• Saturday, April 27, 2024
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BusinessDay

Monitor Commercial Banks Over False Import Declaration, Group Tells CBN

A Non-Governmental organization under the aegis of the Social Integrity Network, (SIN), has called on the Central Bank of Nigeria to beam its searchlight on the activities of the commercial banks especially those abetting false declaration of imported items.

While commending the Central Bank Governor, Mr. Godwin Emefiele in his quest to support the local manufacturers to stabilise their businesses.

The Spokesman of the group,  Ibarhim Issa, asserted this in Kaduna during a peaceful protest where he further explained 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.

The protesters in their banners with different inscriptions such as: ‘ local manufacturers are suffering, local industries are dying, save our soul, Nigeria’s economy is collapsing called on government to intensify efforts to address the issues.

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 manufacturers.

“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.