The House of Representatives has resolved to urge the Federal Ministry of Finance and Central Bank of Nigeria to provide adequate notice to stakeholders in the maritime industry and the general public before altering customs exchange rates as it ensures transparency and allows stakeholders to prepare for any changes that may affect their operations.
It also urged the Central Bank of Nigeria to maintains the system exchange rate for Customs duty and Excise duty purposes below N1,000/$1 preferably N951.941/$1 to encourage patronage in Nigerian ports to prevent galloping inflation, aiming to balance economic stability with competitiveness in the global market.
Raising the motion during plenary, Hon. Leke Abejide, member representing Yagba East federal constituency, Kogi State expressed concern that the Central Bank of Nigeria has raised customs tariffs six times in the past six months, causing inflation and disrupting import and excise duty calculations.
The House therefore adopted the motion without debate and mandated its Committees on Customs and Excise, Finance and Banking Regulations to interface with the Minister of Finance, Central Bank of Nigeria, Governor and Comptroller General of the Nigeria Customs on how fixed exchange rate for Customs and Excise duties will work for the system to boost exports and encourage patronage in the nations Ports.
In another development, the House of Representatives urged the Inspector General of Police, IGP Kayode Egbetokun to fully implement community policing as outlined in section 15 of the Nigeria Police Act 2020 sequel to the adoption of Matter of Urgent Public Importance by Hon. Asama Ago (LP-Plateau) at plenary today.
Ago who recalled that the House of Representatives had passed several resolutions on attacks by assailant in communities across Nigeria said in spite of the numerous resolution arising from motions, communities still continue to be victims of these heinous attacks.
According to him, all efforts of the security agencies seems inadequate because of the overwhelming nature of the situation noting that the atrocious killings have become incessant in several communities across the federation with recent attacks in Nkienzha community of Bassa LGA, Plateau State
In his ruling, the Speaker of the House, Hon. Tajudeen Abbas mandated the Committees on Police Affairs and Legislative Compliance to ensure compliance and report back to the House within four weeks.
