The CTN Document is being set up in Nigeria
The long wait is over. As per the latest news coming out of Nigeria government agency.
The Federal Government has just advocated setting up the loading certification system called Cargo Tracking Note (CTN).
You can read more about Cargo Tracking Note certificate if you are not familiar with the term.
The system that is already in practice in more than 20 countries in Africa, was requested by the Nigerian Shippers Council and expected to put in place by the end of three quarters of 2019.
What is the Purpose of CTN certificate?
The general purpose of CTN is to contribute to risk reduction of unlawful goods, reliable auditing import goods, and all parties involved in the transport chain.
Being able to deny importation of commodities whilst they are still in the country of origin serve as a greater assurance for the country wellbeing and in government’s fight against counterfeit products.
Secondly, Port Management:
According to representatives of Ports that have already got CTN certificate put in place, the Advance Declaration system is also widely regarded to benefit them in managing port traffic.
Although Nigeria has 853 km long coastline, most ports are inadequate conditions.
The ports that are in poor conditions are the ones to benefit the most out of this new requirement.
Because it provides real-time monitoring of inbound and outbound flow of vessels and allows enough time for port managers to allocate necessary space for docking and equipment for unloading.
Thirdly, Under-Declaration of Goods
The most important basis of the argument of the Electronic Cargo Tracking Note supporters is to fight against those who are concealing the true value of goods.
It was reported that up to 80% of imported goods are under-declared. Nigerian Customs Authorities promise that CTN documentation will end under-declared goods coming into Nigeria.
The sippers and exporters will have to declare the value of cargo on the Commercial Invoice as well as the Statical value of goods shown on Export Entry Bill.
With the help of Pre-Arrival Assessment Regime (PAAR) Customs authorities of Nigeria can evaluate the value of declared goods and impose appropriate tariffs.