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WCO, WBG, IMF, NCS Collaborate To Boost Trade Facilitation 

by Newscoven
October 9, 2024
in Business
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WCO, WBG, IMF, NCS Collaborate To Boost Trade Facilitation 

Participants at a five-day workshop organised by the Nigeria Customs Service (NCS), in collaboration with the World Customs Organisation (WCO), the World Bank Group (WBG) and the International Monetary Fund (IMF), on Post Clearance Audit (PCA) to enhance trade facilitation in Nigeria, ongoing in Abuja.

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The Nigeria Customs Service (NCS), in collaboration with the World Customs Organisation (WCO), the World Bank Group (WBG) and the International Monetary Fund (IMF), is holding a five-day workshop in Abuja to enhance trade facilitation in Nigeria.

The five-day workshop on Post Clearance Audit (PCA) will run from 7 October to 11 October, 2024.

At the opening ceremony, the Comptroller-General of Customs (CGC), Adewale Adeniyi expressed gratitude to the WCO, WBG and IMF for their invaluable contributions to the PCA reform efforts.

The CGC, represented by the Assistant Comptroller-General of Customs (Tariff and Trade), Adekunle Oloyode, stated that the workshop is essential for establishing a robust PCA, which complements the Authorised Economic Operator (AEO) programme.

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According to him, both initiatives are critical to strengthening the compliance framework and advancing the trade facilitation efforts of the Service.

“PCA plays a vital role in ensuring compliance in international trade and safeguarding national revenue long after goods have exited Customs control,” he said.

The CGC emphasised that the ability to conduct effective post-clearance audits enables the NCS to detect and prevent commercial fraud, recover lost revenue and enhance trade facilitation.

CGC Adeniyi noted: “PCA serves as a vital tool in balancing trade facilitation with compliance.” He also disclosed that a strong PCA framework fosters a secure trading environment, ultimately facilitating smoother international trade.

Highlighting the significance of online virtual sessions, Adeniyi added: “They provide real-time insights and knowledge sharing, allowing us to address specific challenges and implement the best practices around the globe, helping to innovate NCS PCA processes.”

Outlining the key areas of the workshop, the CGC stated: “The focus includes risk management, targeting, developing data-driven methodologies to identify high-risk transactions, creating detailed audit plans for efficient execution, capacity building, leveraging international expertise and technology, among others.”

He urged participants to apply what they learned to strengthen the Service’s PCA system and protect national revenue.

Suleiman Chiroma, Assistant Comptroller-General of Customs, from the Strategic Research and Policy Department of NCS, said PCA is a tool that ensures the smooth running of Customs processes by introducing measures, methods and various approaches for seamless transactions.

He remarked, “Collaboration with these organisations is key to the survival and success of the NCS.”

Also speaking, World Customs Organisation expert, Russell Clark, expressed his appreciation for the collaboration and commended the NCS’s dedication to improving its processes in facilitating trade.

Tags: IMFNCSWorld Bank GroupWorld Customs Organisation
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