RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Business

Manufacturers Association of Nigeria Calls for Halt in e-valuation and e-invoicing Guidelines

Rate Captain by Rate Captain
February 1, 2022
in Business, Economics, News
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

MTN Nigeria now more valuable than all Nigerian Banks combined

Oil Marketers, Airlines reach loggerheads over local Aviation Price

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

The Manufacturers Association of Nigeria (MAN) has called on the Central Bank of Nigeria (CBN) to halt the administration of its guidelines on e-valuation and e-invoicing, Urging the apex bank to review distinct sections of the technological policy

Segun Ajayi-Kadir, Director-General of MAN stated that said some areas of concern were raised, including the hasty implementation of the policy, less than two weeks after its issuance.

“We noted that the implementation date on the circular is scheduled for 1st February 2022, whereas the guideline itself was issued on the 21st January 2022. This is just 11 days of grace before implementation. This is rather hasty.

“A circular on monetary or fiscal guidelines requires adequate adjustment time. This is more so when it involves international trade and transactions; where a minimum of 90 days allowance of time is normally required, as many operators would have opened Form M and concluded deals either for import of export,” .

Ajayi-Kadir also noted that the  commencement date should be extended by at least 90 days, and transactions embarked on before the issuance of the guidelines be exempted.

“We also seek clarification on paragraph D of the guidelines; wherein the CBN is directing that ‘the content of the electronic invoice authenticated by Authorized Dealer Banks is only advisory for the Nigeria Customs Service (NCS).’ ”

“This means that the NCS may vary it, probably uplift the FOB when issuing the PAAR. MAN considers CBN and NCS as agencies of the Federal Government and hence should harmonise their functions in this regard.”

Previous Post

MTN Records Oversubscription of 139.47 per cent

Next Post

Nigeria Experiencing The Worst Fiscal Crisis Since Independence as Debt Rises to N8.7trn deficit

Related News

MTNN Share Price gains 1.21% after CBN granted the final approval of its MoMo PSB

MTN Nigeria now more valuable than all Nigerian Banks combined

by Rate Captain
May 23, 2022
0

is now worth N5 trillion making it more valuable than all banks, insurance companies, and the entire financial services companies...

MOMAN Debunks Rumor of Aviation Fuel Selling at N700 per Litre

Oil Marketers, Airlines reach loggerheads over local Aviation Price

by Rate Captain
May 20, 2022
0

  Nigerian airline operators are currently at cross-purposes with oil marketers over the rising prices of the aviation fuel, also...

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

by Rate Captain
May 19, 2022
0

The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance...

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

by Rate Captain
May 19, 2022
0

Ghana has started the bulk purchase of the yellow metal-Gold, to raise the gold component of its reserves in a...

Next Post

Nigeria Experiencing The Worst Fiscal Crisis Since Independence as Debt Rises to N8.7trn deficit

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

BNP Paribas has joined JPMorgan’s blockchain-based network.

BNP Paribas has joined JPMorgan’s blockchain-based network.

May 23, 2022
CBN say Nigeria would reap the benefits of a rising oil price

Crude oil hit $111 a barrel amid weak dollar and OPEC’s stance to aid Russia

May 23, 2022

Popular Story

  • Tether, USDT market cap has dropped by US$10B since UST collapse

    Tether, USDT market cap has dropped by US$10B since UST collapse

    0 shares
    Share 0 Tweet 0
  • Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

    0 shares
    Share 0 Tweet 0
  • Experts predicts the death of Shiba Inu

    0 shares
    Share 0 Tweet 0
  • Investment Bank, JP Morgan predicts Foreign Exchange Rates from 2022-2023

    0 shares
    Share 0 Tweet 0
  • MTN Nigeria now more valuable than all Nigerian Banks combined

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.