BULK FORM M NIGERIA: WHAT IS THE MEANING?
Bulk Form M? A client called to ask if it is possible to ship in batches items of same contract, proforma invoice and SONCAP. With our experience and expertise in the import and export business, we gave a yes answer. The reason is for this positive answer lies in the use of bulk Form M. […]
IMPORT DUTY PAYMENT: 20 FEET CONTAINER
Import duty payment is a requirement for virtually all goods imported into Nigeria. Except goods from importers with Import Duty Exemption Certificate (IDEC), all importers pay import duty. Also, some gift items and items with certain predefined HS Codes are exempt from duty in Nigeria. For example, commercial juicer equipment with HS Code 8435100000 is […]
CONTAINER SHIPPING BETTER THAN LCL NIGERIA?
Is container shipping better than LCL? In one word I say yes. The next question that comes naturally is; why? What do we mean by saying container shipping is better than LCL Nigeria? This article is intended to answer the why, what, and how container shipping is better than LCL Nigeria. So, read on and […]
PROHIBITED COMMODITIES NIGERIA: CONTRABAND
Prohibited commodities Nigeria are often mistaken for goods not valid for foreign exchange. The two classes of goods are completely different from each other. Goods marked as not valid for foreign exchange are commodities that have been listed by the central bank of Nigeria as not fit for inter-bank currency trade. Consequently, importers of such […]
CBN BANS FOREX FOR TEXTILE IMPORTERS NIGERIA
Statistics from CBN Nigeria shows that in the early 70s and 80s the country had almost 180 textile mills. Textile mills provided jobs for over 450,000 people back in the days. Unfortunately, most of the textile mills have closed down. Therefore, many workers in the textile and cotton industry have lost their jobs. Also, the […]