CBN Appoints three banks to collect export fee

The Central Bank of Nigeria (CBN) has appointed three more banks for the collection of fees under the Nigerian Export Supervision Scheme (NESS).

The NESS Fee is a statutory payment to the Federal Government of Nigeria on all legitimate goods exported from Nigeria.

Payments covered by NESS include: Payment for crude oil and its derivatives and payment for non-oil goods

According to reports, the banks are Coronation Merchant Bank Limited, Paralex Bank Limited and Lotus Bank.

According to the CBN, the appointment was approved by the minister of finance, budget and national planning.

“Consequently, all authorised dealers are therefore enjoined to bring the information to the attention of the exporting customers,” a circular signed by W.J. Kanya, the director of trade and exchange department said.