In a move to advance Nigeria?s trade facilitation, Comptroller-General of the Nigeria Customs Service, NCS, Mr. Adewale Adeniyi, has announced the full integration of all commercial banks for Form ?M? openings.

This development coincides with the deployment of the indigenous ?B?Odogwu? trade facilitation tool at Lagos? Apapa and Tin Can Island ports, following a successful pilot phase at the PTML Command earlier in 2024.

The integration of commercial banks into the B?Odogwu system marks a pivotal step in modernizing Nigeria?s customs operations. This collaboration aims to streamline trade documentation processes, enhance revenue collection, and improve overall efficiency in trade-related transactions.

Adeniyi reiterated the importance of this integration, adding that the Central Bank of Nigeria (CBN) has instructed all authorized dealer banks to align with the B?Odogwu platform, thereby facilitating seamless Form ?M? openings for traders.

The B?Odogwu system, developed by the NCS to replace the previous Nigerian Integrated Customs Information System (NICIS) II, is designed to modernize customs operations, improve efficiency in trade documentation, and enhance revenue collection.

The successful integration of commercial banks into this system is expected to significantly boost Nigeria?s trade processes and position the country at the forefront of global customs operations.

In a related development, the Nigeria Customs Service (NCS) has commenced expansion of the deployment of the ?B?Odogwu? trade facilitation tool to Apapa and Tin Can Island ports in Lagos. Comptroller-General of NCS Mr. Adewale Adeniyi confirmed the rollout, building on the success of its initial implementation at the PTML Command earlier in 2024.

Adeniyi said that the strategic timing of the deployment was apt adding that the initiative will not only facilitate trade it would help the agency to block revenue loopholes. According to him, the timing is strategic because it aligns with the customs transformative agenda in collaboration with its stakeholders.

The Customs boss stated that the initiative is also an evolution of a new system, noting the termination of a long-standing contract with a service provider and the subsequent engagement of a new company, TMP Limited to develop a new, homegrown system.

?The new company took into account the history of frustration we have had with NICIS, so we decided to start over to develop a new system that would address all the delays and frustration of the past. So we came up with B?Odogwu, which is homegrown,? Adeniyi said.

He clarified that ?B?Odogwu? is an African, Nigerian term, with ?B? standing for ?Border? and ?Odogwu? signifying strength and leadership.

Apapa Area Controller, Comptroller Babatunde Olomu, in his earlier remarks, affirmed the command?s readiness for the next phase of customs modernization adding that as the premier port, the Command is ready for the next level of the customs modernization agenda.

He explained that the service has carried out extensive training of officers and stakeholders, noting the positive testimonials received. ?Nigeria Customs under Adeniyi is the fastest developing customs administration in Africa,? he added. (Vanguard)

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