Think of a system that enables the authorities to better control the ports and also benefits the governments economically. Well, that is what CTN exactly does. The Executive Secretary of Nigerian Shippers’ Council, Mr. Hassan Bello described CTN as “another instrument that will add value tremendously in shipping development”.
Cargo Tracking Note makes it so that countries can monitor the shipments coming into their ports even before they arrive at their destinations. Since the CTN process is online, exporters and importers can be warned about the restrictions of the destination country and prevent loss of money and time before the ship sails.
It increases the tax revenues of ports since it prevents parties from trying to maximize their profits by under-declaring the value of goods, under-invoicing the suppliers at purchases, and concealment. Mr. Hassan Bello said “It will boost the revenue of the government in customs revenue collection in the sense that it will abate under-declaration and concealment. It will boost the revenue of NPA because there will be no more alteration of the manifests. It will boost the revenue of NIMASA because under-declaration of the weight of ships will not be there any longer.”
Nigeria implemented the Cargo Tracking Note in 2010 and it was illegally suspended by the federal government 15 months later. The Economic and Financial Crimes Commission later investigated the subject and found that the CTN system generated a total of €70 million in a short amount of time. Femi Falana (a Nigerian lawyer) said “…on account of the illegal suspension of the Cargo Tracking Note system the country has lost not less than $500 million.”
A system that offers this much to the shipping industry and governments must be really complex, right? Actually, no. With GetCTN the process of obtaining the CTN is easy, fast, and affordable. We offer our customers completely free consultancy so they don’t have any doubts in their minds.
All we expect from our customers is for them to send us the required documents for the specific country – which in general are Bill of Lading, Commercial Invoice, and Export Declaration. And within 12 hours, we provide the validated copy of the CTN to our customers.