The House of Representatives, on Thursday, asked the Central Bank of Nigeria to suspend the electronic evaluation and invoicing policy recently introduced in the import and export chain, warning that it may negatively affect revenue collection by the Nigeria Customs Service.
The Chairman of the House Committee on Customs and Excise, Leke Abejide, had moved a motion titled ‘Call on the Central Bank of Nigeria to suspend the implementation of the new guidelines on the introduction of e-evaluator, e-invoicing for imports and exports businesses in Nigeria.’ According to the lawmaker, “sudden monetary/fiscal circular hurriedly or half-hazardly implemented” often leads to policy summersault, hence major policy change such as this, a grace period of 90 days is usually expected for transactions to run their full course to avoid distortion in the economy and price distortions of trade.
We can't grow in this country 😅
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reps ask CBN to suspend Customs E-Invoice, invite CBN GovernorThe CBN had announced the e-invoice for imports and exports in the country to commence on February 1.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Reps ask CBN to suspend planned implementation of e-invoice policy | TheCableThe house of representatives has asked the Central Bank of Nigeria (CBN) to suspend the planned implementation of an electronic invoice (e-invoice) for all import and export operations. The lawmakers also asked the CBN
Source: thecableng - 🏆 2. / 80 Read more »
CBN urges cement manufactures to slash pricesThe Central Bank of Nigeria (CBN) has appealed to cement manufacturers to consider reducing the high cost of cement. CBN stop ✋ unnecessary deductions from our accounts . Tell them o Fulanis monopolisations kwantinues
Source: Daily Trust - 🏆 13. / 51 Read more »
Poor State of Embassies: Reps summon Foreign Affairs ministerMr Maigari said the lawmakers inserted certain provisions in the 2022 Appropriations Act to address the rot in embassies.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Constitution Amendment: Reps Committee rejects state policeWhile 14 members of the Constitution Review Committee voted against state police, 11 voted in support.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Reps condemn military coups in W/Africa, call for sanctionsThe House of Representatives yesterday condemned the resurgence of military coups in West African and called for urgent actions.... Misplaced priorities. Opportunist are these useless lawmakers. Nigeria problem won't be discussed, a member is so proud to have 28 children but they are talking of West Africa. Uselessness is their second name What's ur business with military coup in west Africa? It shows the house lack vision, u don't no what nest to discuss. Our democracy is a scam
Source: Daily Trust - 🏆 13. / 51 Read more »