Business
NSC Makes Case For ICTN … Says It’ll Combart Smuggling, Others
The Nigerian Shippers’ Council (NSC) has said the new International Cargo Tracking Note (ICTN) will play a crucial role in safeguarding Nigeria from drug trafficking, arms smuggling, and other contraband that fuel insecurity.
Executive Secretary, NSC, Dr. Pious Akutah, stated this in a statement issued by the Head of Public Relations of the Council, Mrs. Rebecca Adamu, in Lagos.
“The ICTN is a proposal by NSC to ensure the traceability of goods across international borders.
“It assigns a unique identification number to each shipment and is therefore a tool to enhance trade globally”, he said.
Akutah said the Council decried the recent upsurge in arms and drug importation and called for total support by all.
The Secretary said the awareness became necessary to inform stakeholders that the new ICTN was not to stifle trade but to support the Federal Government’s economic and security agenda.
He stated that the additional regulatory mechanism works in synergy with customs systems to enhance compliance, risk assessment and trade efficiency.
He further stated that embracing the full implementation of the ICTN remained crucial for the benefit of the economy, Nigerians and most importantly, to drive growth in the Marine and Blue Economy.
“This leads to faster clearance time, reduces congestion at ports, and lowers demurrage costs for traders.
“ICTN ensures accurate cargo valuation, preventing revenue loss due to false declarations, while blocking financial leakage caused by incorrect customs duties, levies and tariffs.
“Furthermore, many countries of the world, including advanced economies, have successfully deployed ICTN for effective cargo monitoring and for trade regulation.
“It is imperative to state that Nigeria’s adoption of ICTN aligns with the World Trade Organisation (WTO) Trade Facilitation Agreement (TFA) and international maritime security standards”, he said.
Chinedu Wosu