FX Guys

Shippers groan over FX fluctuations, multiple charges

Critical operators in the clearing and forwarding industry in Nigeria are worried over the persistent volatility in foreign exchange rates and multiple dues at the port of entries.

Besides, the operators, citing cumbersome processes, have expressed concern that policies of Federal Government on ease of doing business. Especially in the shipping industry, is frustrating stakeholders.

At a stakeholders workshop tagged “Port Economic Regulation and it’s Impact on Commodity Shipments,”held in Kano, operators further lamented how regulatory agencies at the ports allegedly imposing unknown charges.

What the Vice President of the shippers association said

Vice President shippers association, Alhaji Jamilu Goma, said the fluctuating nature of the exchange rate is having negative impact on businesses at ports.

Goma said the increased charge on landing of goods is negatively impacting on the…
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