CAFFA caution FG on Forex Policy

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The new Coordinator for Concerned Accredited Freight Forwarders Association (CAFFA), Chief Eugene Nweke has caution the Federal Government on Forex Policy which has in the past few weeks brought a setback to some businesses.

Speaking shortly after a one day training programme, organized by CAFFA in conjunction with Importers Association of Nigeria (IMAN), he said "why we are grappling with the issue of restriction and foreign exchange is because for over forty five years going, our economy is dependent on importation and if actually we are sourcing to export, I don't think it will happen this way".

Nweke who is currently president National Association of Government Approved Freight forwarders (NAGAFF) also stressed reiterated that policy by CBN may be of good intention but the approach to it has been unfriendly to freight forwarding practitioners and Nigerians as a whole. 

According to him, government would have consulted professionals from various sectors involved in international trade on the best way possible on foreign exchange policy stating that the restriction then had a negative impact to ports operations across the country. 

While speaking on possible solutions and way forward to CBN, the CAFFA coordinator stated that government should source for avenue to promote exportation and also empower locally manufacturers as way to curtail inflation in the country. 

Moreso, the encouragement of local produces will give rise for adjustment on foreign exchange and lmport trading activities pointing out that ban on some items is not the right way to move international trade forward.

"This policy as far as we are concern may be well intended by the government but the approach to us is not too smooth because there are some certain products that requires a graduation process and not immediate and general pronouncement will affect the international trading committee" 

It will be recall that the President during a media chart said he cannot answer questions on behalf of the CBN.  But the reason he took that decision on foreign policy was to reduce the high rate of stealing money and taken abroad. 

"Therefore policy that has to do with foreign exchange must be done after due consultation and it is not enough for CBN to say they met with their experts but to conduct opinion poll in the market where the impact would be felt before meeting with the president. 

Also justifying the need for the one day training, the NAGAFF president noted that there is urgent need for Nigerian freight forwarders to align themselves with international freight forwarding nations; saying that neighbouring Ghana practitioners are a step above Nigerian players. 

He also added that the practice is ICT drive hence Nigerian practitioners need to key into the advancement in technology. 

Nweke said the training centred on how practitioners can make use of their telephone or devices with internet facilities to create archives for cargo and staff etc. 

However the freight forwarding expert admitted that the practice in Nigeria has been overwhelmed by non professional which brought about the need to be trained through the maritime agency regulatory support.


Also speaking, Deputy National President of NAGAFF, Mr. Oluwole Adeyemi called on the facilitators of the. Workshop to embark on a quarterly training programme for the Nigerian freight forwarders adding that "I have been an advocate of training and re training of practitioners"


"Today's programme is coming at a time when we most needed it and we want it to be a consistent programme which can hold per quarter because anybody that is not trained cannot be current and may not know what is obtainable in the industry"

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