‘Unstable Customs FX Rate Fuelling Smuggling, Cargo Diversion’ …C0NTINUE READING HERE >>>
The Centre for the Promotion of Private Enterprise (CPPE), has urged the federal government to peg the exchange rate for computing Customs import duty at the nation’s seaports to N1,000/$1 as it fuelling diversion of cargoes to neighbouring seaports and massive smuggling through the land borders.
The Centre in a statement by its director, Dr Muda Yusuf, said cargo diversion to neighbouring countries and smuggling would jeopardise the realisation of Customs revenue target.
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