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CBN Stops Price Verification System As Criteria For Imports - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Stops Price Verification System As Criteria For Imports (9577 Views)

CBN Stops Use Of Foreign Currencies As Collateral For Naira Loan / CBN Announces Price Verification System Portal (PVS) / Naira Falls After CBN Stops Forex Sales To BDCs (2) (3) (4)

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Re: CBN Stops Price Verification System As Criteria For Imports by femarse: 4:21pm On Jun 27
Paraman:
It's your right to criticize the government, but you want to do so, make sure you have an idea of what you're talking about

Look at your ignorant comment below

You have no knowledge about why the PVS was created and what it's used for

What you're wailing about has no correlation with the issue at hand... This has nothing to do with price of import shooting up, even if it will affect price, it will make it fall


It's because of authoritarian people like you that freedom of speech and opinion was part and parcel of all nations constitution.... autocratic idiot that rode to govt on the platform of freedom of speech and criticism, got to govt and started attacking everyone who criticise them or oppose their view .....between that was not my comment , I did not comment on the thread topic, just notice you have been jumping from one thread to the other fighting everyone that criticize the govt ....looks like you dont have a job ...and for the last time , every single citizen of the country has a right to criticize their govt ....whether that criticism is constructive or not is not a criteria not to air such a view and it's not in your place to attack them , it's their constitutional given right , if the govt likes they listen and make changes, if they like turn a deaf ear

Go get a job and stop calling govt critics obedient , everyone has a right to freedom of speech and opinion so long it does not cause personal injury to another person , or the guy comment remove your left eye?
Re: CBN Stops Price Verification System As Criteria For Imports by Paraman: 4:52pm On Jun 27
femarse:



It's because of authoritarian people like you that freedom of speech and opinion was part and parcel of all nations constitution.... autocratic idiot that rode to govt on the platform of freedom of speech and criticism, got to govt and started attacking everyone who criticise them or oppose their view .....between that was not my comment , I did not comment on the thread topic, just notice you have been jumping from one thread to the other fighting everyone that criticize the govt ....looks like you dont have a job ...and for the last time , every single citizen of the country has a right to criticize their govt ....whether that criticism is constructive or not is not a criteria not to air such a view and it's not in your place to attack them , it's their constitutional given right , if the govt likes they listen and make changes, if they like turn a deaf ear

Go get a job and stop calling govt critics obedient , everyone has a right to freedom of speech and opinion so long it does not cause personal injury to another person , or the guy comment remove your left eye?
Instead of accepting correction... You keep on arguing blindly

It's your right to criticize the government, but criticize with your common sense.

The action of the CBN and your comment has no correlation with each other

That's what am just trying to let you know

osazsky:
Prices of import will go up since the importers know dat CBN won't varyfy prices wat ever price they put on imported goods will be given approval provided they pay bribe simple
The PVS was not created to control price. The CBN can't dictate price importers will sell their goods

Infact, if this is going to affect price, it's just going to make price fall, not increase
Re: CBN Stops Price Verification System As Criteria For Imports by TYCO77: 5:03pm On Jun 27
[color=#000099][/color]
Peejayz:
Someone should explain.


How will it affect importation

Okay. Importers pay customs duty before they could clear their imported goods at the ports. This duty is a percentage of the price of the item(s) from country of production, converted to our local currency as determined by CBN exchange rate. The duty percentage of goods is well documented in the HS Code(Harmonized system code)

Generally, importers forward their pre-importation documents and the packing list containing numbers of item(s) imported and their price(s) to CBN via the their banks for Form 'M'. The Form 'M' is an essential and mandatory document for importation and clearing of goods in Nigeria.

However, some unpatriotic importers in connivance with their clearing agents manipulate these documents, mostly the packing list and prices in order to avoid paying the correct duty. The CBN in order to checkmate this came up with the Price Verification System instead of depending on the prices forwarded by the importers for processing the Form 'M'. This system can no longer stand due to the fluctuation of the Naira exchange rate.

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Re: CBN Stops Price Verification System As Criteria For Imports by femarse: 6:41pm On Jun 27
Paraman:
Instead of accepting correction... You keep on arguing blindly

It's your right to criticize the government, but criticize with your common sense.

The action of the CBN and your comment has no correlation with each other

That's what am just trying to let you know

The PVS was not created to control price. The CBN can't dictate price importers will sell their goods

Infact, if this is going to affect price, it's just going to make price fall, not increase

Ode , no be me comment , very hard for you see cos of your blind hate
Re: CBN Stops Price Verification System As Criteria For Imports by bfn1: 10:57pm On Jun 27
Hope Nigerian Customs will set fair standards for shipment value upliftment in PAAR processing.

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