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ICT Promotes Transparency in Freight Forwarding – Nweke

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Eugene Nweke, is the new national president of National Association of Government Approved Freight Forwarders (Nagaff). A product Nagaff Academy with an advance diploma in international freight forwarding, Nweke, started his freight forwarding career in 1989 with Greenlight Limited and has been a member of the association from its inception in 1999. The new Nagaff boss in this interview with nkechi david –iwuchukwu, talked about the freight forwarding industry and ICT.

Nagaff
Nagaff is a professional association that took its root from freight forwarding. It came as a child of necessity, to change the perception of the general public on the activities and practices (services) of a freight forwarder. Before now there was an old nomenclature referred to as clearing and forwarding, which some members of the public believe is synonymous to 419, there by discrediting the noble profession of freight forwarding which is a global profession.
As such Nagaff carried out a vision with a mission statement to usher in a sustainable freight forwarding practice in Nigeria by institutionalizing ethics, code of professional conduct and respect to rule of law. In addition, to give a direction to a better way of settling trade disputes through dialogue, consultation, and communication, as opposed to confrontation, antagonism, strike actions and so on.
To achieve, we needed a pro-active public advocacy and that has been our tradition. This is what we have been doing for the past 10 years and we will continue to intensify our public advocacy.
Area of Courier Services
Freight forwarding covers so many areas, that is why one of our books published asked a question: A freight forwarder, what does he do?
International Federation of Freight Forwarders Association (Fiata) adopted a definition for freight forwarding and logistics services as : services of any kind relating to the carriage performed by single mode or multi-modal transport means ( consolidation, storage, handling, packing or distribution) of goods, as well as ancillary and advisory services, in connection, including but not limited to customs and fiscal matters, declaring the goods for official purposes, procuring insurance of goods and correcting or procuring payment or documents relating to the goods. Freight forwarding services also includes logistical services with modern information and communication technology (ICT) in connection with the carriage, handling or storage of the goods referred to a de facto total supply chain management. These services can be tailored to meet the flexible application of the services provided. Therefore, a freight forwarder can be defined as the party who ensures that international traded goods move freely from point of origin to point of destination to arrive; (i) at the right place (ii) at the right time (iii) in good condition (iv) at the most economic cost. If you look at this definition, you now see that a freight forwarder is a logistician, which means he maintains a close cooperation with other actors within the maritime chain, including transporter, negotiating freight rate, comparing cost, moving cargo along different routes, observing different modes, designing logistic infrastructure that provide the best compromise between cost, speed and reliability. With this, you see that a freight forwarder is a logistic officer and one adhering to and ensuring statutory compliance. A freight forwarder therefore carries out an aspect that is gratifying in the facilitation of trade through consultancy and networking. In summary the freight forwarding family comprises the following; packaging and warehousing firms, custom licensed agents, courier companies, global logistics and air freight companies, cargo brokers and consolidators and multimodal transport companies.
Changing Roles of Freight Forwarding
The traditional freight forwarding functions are divided into (i) documentation (ii) planning and costing routes (iii) booking  and coordinating freight, arranging and ancillary services such as; warehousing and packing, consolidation, paying charges and dues to carriers, ports, customs etc (iv) rendering  advices to shippers and providing information to help them prepare quotation, these are the activities that makes a freight forwarder to be portrayed as agent to the shipper.
Scope in Terms of Spread
Nagaff is in three zones of the federation; South- East zone, comprising; Onne, Port Harcourt area 1, Airport, Calabar and Warri. Northern zone, which comprises; Kano, Abuja and Kaduna-Katsina. Finally, the Western zone, comprising; Murtala Mohammed airport, Apapa port, Tincan Island port, Seme, Idiroko, Ikorodu, KLT, Port Terminal Management Limited (PTML), and Federal Operation Unit (FOU).
Major Focus as New Nagaff President
From all that I have said, you can see that freight forwarding is a gamut of activities, therefore in sustaining our passion at ushering in freight forwarding practice in Nigeria, the area of training and retraining of members in accordance with the Council for Regulation of Freight Forwarding in Nigeria (CRFFN) act number 16, 2007, is a primary area of focus in this administration, because there is an urgent need for skill acquisition and capacity building. Secondly, I will look at the area of intensifying on public advocacy, because the old orders, practices and procedure are still living with us. Finally, I will also look out to advise government on the consequence of inimical trade policies where and when the need arises.
Challenges Faced
Administering an association like Nagaff, which is a non-profit making organization,  yet committed to public advocacy, sustains itself through membership subscription. In this wise, the obligation of making members to be loyal and committed requires extra effort.
IT Impact on Service Delivery
Obviously, before now the World Trade Organisation (WTO) / World Custom Organisation (WCO), has been at the forefront of championing IT driven cargo clearance procedures and transactions, which culminated into simplification, harmonization of custom tariffs and clearance procedures with emphasis placed on elimination of cumbersome procedure and bottleneck in cargo clearance processes. Therefore, in pursuit of globalization and in compliance to IT driven trade transaction and facilitation the WTO is promoting a paperless shipping and trade environment. IT has also encouraged an “increased cargo through-puts “(influx of cargo) and enhanced “turn around time of vessel “(discharging time for ship).
ICT Growth
One important thing that has happened has to do with exchange of expertise between Nigeria and other nations, talking about globalization. And since Nigeria can not be isolated from the world, then obviously looking at our population, human resources and natural resources, Nigeria has between 1999 following the introduction of GSM and in compliance to Y2K (computerization), it is remarkable to note that Nigeria has been ICT compliance for over 20 years. Therefore, the growth of ICT in Nigeria is at a steady increase but there is still room for improvement, especially within our educational sector and some aspect of government dealings, because ICT has a place in promoting transparency.

      


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Banks Close 2m Accounts over BVN, NIN, Others

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Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of questionable accounts and comply with regulatory orders on the linkage of bank accounts to the National Identity Number (NIN).

Banks Close 2m Accounts over BVN, NIN, Others

This is contained in a report by the Nigerian Interbank Settlement System (NIBSS), which also indicated that the number of inactive bank accounts grew month-on-month, MoM, by four million or 2.0 per cent to 19.7 million in March 2024 from 19.3 million in the previous month, February.

A bank account is classified inactive when it records zero transactions including deposits, withdrawals, transfers or point-of-sale transactions for six months.

However, details of the “Industry Bank Account Database”, a monthly data reported by banks, and compiled by the Nigerian Interbank Settlement System, NIBSS, also indicated that the number of active bank accounts grew by 6.62 million or 3.0 per cent to 219.64 million from 213.02 million in February.

Recall that in December 2023, the CBN issued a directive to all commercial banks in the country to restrict tier-1 accounts without proper Biometric Verification Number (BVN), and National Identity Number, NIN, that are not linked by Thursday, March 1st, 2024.

According to NIBSS data on BVN enrollment count, 61.6 million Nigerians have BVN as of April 2024.

 

Credit: Vanguard

 

 


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Dubai-Based Citizenship Firm Imperial Citizenship Expands to Lagos, Targets Africa’s Growing Wealth

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Imperial Citizenship, a Dubai-based firm specialising in Citizenship and Residency by Investment (CRBI) solutions, has set its sights on Africa’s burgeoning wealth with the launch of a new office in Lagos, Nigeria.

This strategic move positions Imperial Citizenship to capitalise on the continent’s growing population of high net worth individuals (HNWIs) seeking international investment and mobility options.

Imperial Citizenship boasts a proven track record of success, having secured over 2,000 approvals for clients seeking alternative citizenship and residency pathways. Their partnerships with over 15 governments worldwide provide a diverse portfolio of investment opportunities that adhere to strict international regulations.

With its Lagos launch, Imperial Citizenship begins its foray into Africa. The continent boasts a burgeoning HNWI population, according to PwC, presenting a lucrative market for investment firms like Imperial Citizenship.

According to the World Bank, African economies are projected to grow by 3.4 % in 2024 as the African Development Bank Africa has reported that Africa will account for eleven of the world’s 20 fastest-growing economies in 2024. Highlighting the market’s potential, Mr. Zaid Al Hindi, Founder and CEO of Imperial Citizenship, says, “our expansion into Lagos allows us to directly cater to this affluent segment, offering them strategic solutions for global asset diversification, optimised investment opportunities, and enhanced global mobility.”

“At Imperial Citizenship, we do not operate through intermediaries, as we differentiate ourselves through direct government partnerships. This ensures transparency, legality, and efficiency throughout the application process, providing peace of mind for investment-minded clients” Zaid stated during the launch event in Lagos.

Speaking on the company’s approach to CRBI, Zaid mentioned, “At Imperial Citizenship, we prioritise a client-centric approach. We go beyond simply offering programs; we provide dedicated advisors who understand the unique needs and aspirations of each client. This personalised service ensures clients receive tailored investment options that align with their financial goals and risk tolerance”.

The launch of the Lagos office underscores Imperial Citizenship’s commitment to global expansion. With physical offices in Dubai and now Nigeria as well as operational representatives in Mexico, Algeria, and Turkey, Imperial Citizenship demonstrates its ability to cater to a geographically diverse clientele.

Looking ahead, Zaid highlighted that Imperial Citizenship plans to broaden its service offerings and expand its reach into new markets. By strategically targeting Africa’s rising wealth, Imperial Citizenship is well-positioned to solidify its role as a leading player in the CRBI industry, offering investors a gateway to global opportunities.


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234Finance Moves to Boost Economic Progress in South East

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In a recent gathering, organized by 234Finance, key stakeholders and HNIs came together to discuss the theme “Fueling Progress in the South East.”

The conversation highlighted the rich heritage, entrepreneurial spirit, opportunities for growth and the potential of the South East to be economic powerhouse.

During the discussion, the Managing Partner of 234Finance, Ezinne Nwazulu unveiled plans for an upcoming event of significant impact: the 4-week intensive SME Bootcamp and Mentor Matchup Challenge South East edition designed to empower SMEs. The program aims to empower SMEs with the knowledge, tools, and capital for rapid expansion and global competitiveness.

This initiative is building on the success of previous Mentor Matchup Challenge events, which equipped SMEs with actionable strategies and one-on-one mentorship, resulting in winners of the pitching competition securing grant funding to scale their businesses by 4x-10x.

The SME Bootcamp will feature an array of activities, including physical and virtual training sessions, onsite industrial training, and a pitching competition.

Ezinne Nwazulu emphasized the rigorous selection process, where the top 100 applicants meeting the criteria will undergo intensive training at two training centres in Abia and Anambra. From there, the most promising 15 participants will have the opportunity to pitch their business for grant funding.

Dr Chima Anyaso, Chairman of Caades Group, expressed his commitment to the region’s development and encouraged entrepreneurs with innovative crafts to seize this opportunity.

Criteria for selection are uncompromising, emphasizing technical expertise in core sectors; Agribusiness, Manufacturing, Supply Chain & Logistics, Fashion & Textile, and Retail, with a particular focus on businesses operating within the South-East region for at least three years and significant growth potential of 4x-10x.

The Bootcamp is set to commence from May 14 to June 14 2024 with Southeast-based entrepreneurs encouraged to visit the 234finance bootcamp to apply.


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