By Adebola Isimijola, Lagos

A maritime trade expert, Mr. Okey Ibeke, has called on the Nigeria Customs Service (NCS) to investigate what he described as the illegal sale of temporary import shipping containers by foreign shipping companies, alleging that the practice may have cost Nigeria more than $375 million in lost customs revenue over the past three decades.

Speaking at a press conference with members of the Shipping Correspondents Association of Nigeria (SCAN) in Lagos on Monday, Ibeke, Principal Consultant of International Trade Advisory Services and Editor-in-Chief of Business and Maritime West Africa, expressed concern over reports that Grimaldi Agency Nigeria plans to sell over 2,500 empty containers to members of the public with payments allegedly required in United States dollars.

According to him, the reported transaction raises concerns over compliance with customs regulations governing temporary imports as well as federal policies aimed at reducing the dollarisation of domestic transactions.

“The containers are in Nigeria under Temporary Import status. They are not Nigerian assets and cannot be sold locally without following customs procedures,” Ibeke said.

He explained that under the Nigeria Customs Service Act 2023 and existing temporary import guidelines, shipping containers brought into the country are expected to be re-exported unless approval is obtained from Customs for their conversion to permanent import status.

Ibeke stated that such conversion requires Customs approval, valuation of the containers, payment of applicable duties and taxes, and issuance of a release order before the assets can be legally sold within Nigeria.

He alleged that failure to follow the process could result in significant revenue losses to the Federal Government.

“On a $2,000 container, government loses approximately $350 to $400 in duties and taxes per unit if sold without conversion. For 2,500 units, that amounts to between $875,000 and $1 million in potential revenue from a single transaction,” he said.

The maritime expert further argued that the issue may not be limited to one company, claiming that large numbers of shipping containers have been converted to commercial and domestic uses across the country over the years without proper customs regularisation.

“If 250,000 containers were sold without duty payment at an average value of $1,500, Nigeria may have lost over $375 million in duties and VAT over the last 30 years,” he alleged.

Ibeke also cited provisions of the Nigeria Customs Service Act 2023, Central Bank of Nigeria foreign exchange regulations, Nigerian Ports Authority temporary import guidelines and Nigerian Shippers’ Council regulations, which he said require compliance with customs procedures and prescribe the use of the naira for domestic transactions except where exemptions have been granted.

He called on the Comptroller-General of Customs to suspend ongoing container sales pending investigation, conduct an industry-wide audit of shipping lines, reconcile port and customs records, recover unpaid duties and taxes where applicable, and sanction any violators.

“This is not about driving away investors. It is about enforcing the law and protecting Nigeria’s revenue at a time when government needs resources to support economic stability,” he said.

As of press time, Grimaldi Agency Nigeria had not issued any official response to the allegations raised at the briefing.