Customs Set To Implement Authorised Economic Operators For Compliant Traders

The Nigeria Customs Service has unveiled another roadmap towards simplifying trade in Nigeria through fast-tracking of compliant traders in line with the World Customs Organization protocol.

The project, which is called ‘Authorised Economic Operators’ (AEO), has the protection of the new Nigeria Customs Service Act 2023 and will be designed to systematically identify tolerable risks affecting the importation of legitimate goods into Nigeria.

During a presentation on the modalities of implementation at Customs headquarters Abuja on Wednesday, Ag. Comptroller-general of Customs, Adewale Adeniyi re-echoed his commitment to tackling challenges bedevilling trade facilitation in Nigeria.

The CG, however, said that compliant traders and businesses of significant benefits should embrace the innovation, assuring that it will be a game-changer in the realm of trade facilitation.

It is also believed that the AEO project will contribute to ease of doing business across various sectors and attract investors into the country.

The process, which is expected to improve security and efficiency in fast-tracking goods, is designed to reduce turnaround time for importers and double up the chances of generating revenue, which according to Adeniyi, will strengthen the mutual recognition between the Service and stakeholders.

Some of the benefits that AEO brings are reducing examination and priority examination, amongst others.