New Export Inspection Regime To Curb Leakages, Lift FX Inflows – Stakeholders

BY YUSUF BABALOLA AND BUKOLA ARO-LAMBO Lagos
With the appointment of pre-shipment inspection agents (PIAs) and monitoring and evaluation agents (MEAs) for crude oil and gas exports under the Nigerian Export Supervision Scheme, by the Central Bank of Nigeria (CBN), analysts and operators in the industry has said the move will not only block revenue leakages but also boost the country’s foreign exchange earnings.
Speaking with Leadership, chief executive officer of the Centre for the Promotion of Private Enterprise (CPPE) Dr Muda Yusuf, commended the CBN for taking such steps in line with existing legislation.
Yusuf, alleged leakages and improper documentation process leading to loss ...