Nigeria : les expéditions de cacao butent sur les nouvelles exigences administratives de la Banque centrale

  • 01 décembre 2020 / Actualité / 215 / Emerging Africa


Nigeria : les expéditions de cacao butent sur les nouvelles exigences administratives de la Banque centrale

In Nigeria, the cocoa bean export segment is slowing down. Now required by the Central Bank to provide additional documents before taking out their cargoes, operators in the sector are facing delays.

In Nigeria, the puzzle for cocoa exporters continues. Already grappling with slowing global demand, players must now provide additional documents to shipping companies before their cargoes are shipped.

According to details relayed by Bloomberg, these new measures ordered by the Central Bank (CBN) aim to ensure the repatriation of foreign currency generated by the sale of cocoa through official channels to the country which is currently experiencing a shortage of liquidity.

According to Pius Ayodele, former president of the Association of Cocoa Exporters, it takes around 40 days for operators to comply with these requirements, which significantly slows down shipments. In addition, according to the official, a volume of 100,000 tons of cocoa is currently trapped in the containers stationed at the ports.

“What the Central Bank is currently fighting is the export without declaration in which many actors are involved. Now the CBN has closed these loopholes, ”said Bamidele Ayemibo, senior consultant for the import-export firm 3T Impex Trade Academy.

For the cocoa sector, the new administrative requirement adds to the difficulties relating to recurring traffic jams. Nigeria expects a harvest of 270,000 tonnes of cocoa in 2020/2021


source: businessnewsafrica.net

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