CBN Announces Introduction of Nigeria Customs Service eAUCTION Platform

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN)

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Tuesday announced the Nigeria Customs Service (NCS) has deployed an electronic auction platform tagged “NCS eAuction”.

The apex bank in a circular dated July 24, 2017 and signed by Wuritka Gotring, director, Trade and Exchange Department said the objective of the platform is to improve the efficiency; transparency and revenue generations to government on seized and overtime/abandoned cargoes.

“In view of this development, all authorised dealers are required to integrate with the NCS eAuction platform for the recharging of eWallet and subsequent payment of the required fees for winning bids,” the circular added.