Customs to launch e-auction platform next week

The Nigerian Customs Service has revealed that as part of efforts to boost transparency in its auctioning process, it will be launching an electronic platform to accommodate applications from interested Nigerians.

The Comptroller General of Customs, Adewale Adeniyi stated this yesterday in Abuja at a press conference on the Service 2023 Performance and Forecast for 2024.

According to him, “In the upcoming week, the NCS is set to inaugurate an electronic auction (e-auction) platform, strategically designed to enhance transparency in the auction process. These collective actions signify NCS’s dedication to enhancing staff welfare and sustaining optimal performance,” he said.

Speaking on the fiscal year 2024, the NCS boss noted that the N5 trillion, aligning with the government’s economic objectives while noting that the Commission’s strategic initiatives alongside other operational reforms, are anticipated to play a crucial role in achieving this revenue goal.

Speaking on the Customs’s role in facilitating the African Continental Free Trade Area Agreement, he said “The inception of the Guided Trade Initiative (GTI) on October 7, 2022, saw over 30 countries participating, with Customs assuming a leading role in the implementation of the AfCFTA.

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“As the driving force behind AfCFTA execution, Customs holds a central position in shaping government trade policy. The NCS is resolutely committed to actively contributing and playing a pivotal role in aligning its operations with the dynamic facets of AfCFTA,”

Adeniyi further stated that the zero-tolerance approach towards smuggling, especially petroleum products out of the country, will be rigorously enforced as the Service remains resolute in addressing border management challenges, balancing security concerns with trade facilitation.

He also noted The Service acknowledges the impact of currency exchange variations on trade dynamics and revenue collection, saying that it aims to address the challenge proactively by considering strategies to mitigate potential adverse effects, one of which is to regularly update the exchange rate in line with the going market conditions.