Regulatory Alerts2004-11-09 | TED-AD-128-2004Additional Information on the Pre-shipment Inspection of Non-Oil Exports in Nigeria
The Central Bank of Nigeria has appointed designated banks for the collection of Nigerian Export Supervision Scheme (NESS) administrative fees. These include First Bank, United Bank for Africa, Union Bank, Afribank, Guaranty Trust Bank, Zenith International Bank, Standard Trust Bank, NUB International Bank, Prudent Bank, Diamond Bank, FSB International, Oceanic Bank International, and National Bank. The banks must submit monthly returns on all collected fees, including nil returns, and adhere to certain guidelines to avoid sanctions such as payment of interest for delayed payments or de-listing from the scheme. Additionally, exporters should ensure that export documents are submitted through their collecting bank within 90 days from shipment.