Nigeria Customs advice government to review Foreign Exchange policy

By David Adekunle, Lagos

The Comptroller-General of Nigeria Customs Service, Retired Colonel Hameed Ali has urged the Nigerian government to review the foreign exchange policy which had affected imports and revenue collection.

The customs boss made the plea in an interview with journalists in Lagos as maritime activities closed for the week.

Ali said Nigeria was an import-independent economy, stating that this year could be a tough year due to delay in reviewing the Forex policy.

He assured that the Nigerian Customs Service was working hard in making sure it generates more revenue on excise to complement imports.

“The volume of trade is low. So, there is need for volume of trade to go higher for us to generate more revenue,’’ Ali added.