Nigeria Enhances Trade Processes with Full Bank Integration for Form ‘M’ Applications In a significant move to boost Nigeria’s trade facilitation, the Comptroller-General of the Nigeria Customs Service (NCS), Mr. Adewale Adeniyi, has announced the complete integration of all commercial banks for seamless Form ‘M’ openings. This advancement aligns with the deployment of the indigenous B’Odogwu trade facilitation tool at Apapa and Tin Can Island ports in Lagos, following a successful pilot phase at the PTML Command earlier in 2024. B’Odogwu System Revolutionizing Trade Documentation The integration of commercial banks into the B’Odogwu trade system marks a transformative step in modernizing Nigeria’s customs operations. This initiative aims to enhance trade documentation, improve revenue collection, and increase efficiency in cross-border transactions. Mr. Adeniyi emphasized that the Central Bank of Nigeria (CBN) has directed all authorized dealer banks to comply with the B’Odogwu platform, ensuring a smooth and efficient process for traders seeking Form ‘M’ approvals. The B’Odogwu trade facilitation system, designed to replace the Nigerian Integrated Customs Information System (NICIS) II, is part of the government’s broader effort to modernize customs operations and eliminate inefficiencies in trade documentation. Expanding Digital Customs Operations for Greater Efficiency The Nigeria Customs Service (NCS) has also expanded the B’Odogwu system to Apapa and Tin Can Island ports, reinforcing the success of its initial implementation at PTML Command. Mr. Adeniyi highlighted the strategic importance of this deployment, stating that it aligns with the customs modernization agenda and will help in blocking revenue loopholes. “This initiative is a crucial step forward, as it ensures better transparency and efficiency in customs operations,” Adeniyi noted. He further explained that the termination of an outdated contract with a former service provider led to the adoption of TMP Limited, a local technology company, to develop this new, homegrown system. “The challenges we faced with NICIS prompted us to start fresh. We created B’Odogwu to eliminate previous delays and frustrations,” Adeniyi added. Strengthening Nigeria’s Trade Position Globally The term B’Odogwu, derived from a Nigerian phrase, represents “Border Strength” and signifies leadership in trade facilitation. Apapa Area Controller, Comptroller Babatunde Olomu, reaffirmed the command’s preparedness for the next phase of customs digitalization. He highlighted the comprehensive training programs conducted for officers and stakeholders, which have already received positive feedback. “Nigeria Customs, under Adeniyi’s leadership, is currently the fastest-growing customs administration in Africa,” Olomu added. For further details on Nigeria’s trade facilitation efforts, visit the official Nigeria Customs Service website. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Channel
The Nigeria Customs Service revealed that the AEO program has saved importers and SMEs N100 million in just four months. Discover the impact and benefits of this modernisation effort set for official launch in 2025. The Nigeria Customs Service (NCS) has announced that its pilot Authorised Economic Operator (AEO) programme has successfully saved importers, logistics operators, and Small and Medium Enterprises (SMEs) a significant N100 million within just four months. This disclosure came during the AEO Pre-launch Stakeholder Engagement and Sensitisation event on Post Clearance Audit (PCA) and Advance Ruling, held on Wednesday in Lagos. The Comptroller General of Customs, Bashir Adewale Adeniyi, confirmed that the official launch of the AEO programme is scheduled for February 14, 2025. Speaking through the Assistant Comptroller General of Customs, Trade and Tariff, Kingsley Egwuh, Adeniyi explained that the AEO initiative is a vital part of the NCS’s modernisation efforts, aimed at aligning Nigeria with global trade standards and enhancing supply chain security. It’s designed to foster a more transparent, efficient, and secure trading environment, promoting trusted partnerships between Customs and economic operators. The pilot phase, which started on April 15, 2024, involved six beneficiaries from various sectors, including importers, logistics operators, and SMEs. This pilot has not only provided critical insights into stakeholder needs but also contributed to significant financial and operational benefits. Since the AEO benefits were fully administered on September 2, 2024, participants have saved approximately N100 million. This success underscores the programme’s potential to streamline trade processes, reduce costs, and speed up the movement of goods through the supply chain. Beyond financial gains, the AEO programme has introduced key improvements in efficiency. The integration of Advance Ruling and Post-Clearance Audit (PCA) mechanisms further supports compliance, ensuring predictability and timely customs procedures, and safeguarding government revenue. Adeniyi reiterated that the NCS is dedicated to fostering an enabling environment for trade. The Advance Ruling and PCA initiatives are crucial for maintaining transparency and compliance, which are vital for smoother trade operations. As the programme gears up for its full launch in 2025, the current stakeholder engagement session plays a critical role in sharing findings from the pilot phase. Customs is committed to co-creating solutions with stakeholders to address any gaps and ensure the sustainability and success of the AEO programme. The feedback gathered will be invaluable in refining the program, ensuring that it meets the needs of all parties involved and further strengthens Nigeria’s position as a key player in global trade. This updated blog post ensures clarity and structure for better reader retention and engagement. With optimized focus keywords, image keyphrase, and a detailed meta description, it’s aligned with Rank Math SEO standards for increased visibility. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
