4 hours Ago By Eugene Agha
By Eugene Agha The Nigeria Customs Service (NCS), Federal Operations Unit, Zone A, Ikeja, Comptroller Kola Oladeji, has revealed how smuggling of products such as rice and fuel are causing a forex crisis in Nigeria. Oladeji explained that the activities of smugglers are constantly adding pressure to the value of the nation’s currency, despite numerous policies of the government to check its free fall. The Customs Area Comptroller in charge Zone A stated that the continued exchange of the naira for CFA daily accounts for why naira is not stable in the market.
Kola disclosed this while showcasing some seized bags of foreign parboiled rice to journalists at the command on Monday. Though he did not mention the value of the seizures, he stated that all the items were seized in the South-Western borders in the last 24 hours. “There is the need to stop rice smuggling to allow local rice millers to succeed.
Smugglers don’t pay tax, they don’t pay anything and all these prohibited items are not meant for this country,” he said. He explained that they had been tracking the contrabands for some time before finally intercepting them on Monday. Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
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