The Nigerian Ports Authority (NPA) has offered clarification on its practice of charging operators in dollars, attributing the decision to the international character of the shipping industry where the dollar serves as the globally recognized currency. Mrs. Sarah Ballah, the acting General Manager of Corporate and Strategic Communications at NPA, elaborated on this rationale in a recent conversation with The PUNCH.
In response to concerns about the pressure on the naira, particularly amidst its devaluation, the Economic and Financial Crimes Commission (EFCC) initiated a significant move by deploying a 7,000-man special task force across its 14 zonal commands to crack down on private organizations conducting transactions in dollars within the country.
Dele Oyewale, the spokesperson for the anti-graft agency, announced in a statement from Abuja that proprietors of private universities and other educational institutions charging tuition fees in dollars had been summoned for questioning.
The devaluation of the naira has exacerbated the situation, with the exchange rate for cargo clearance witnessing a sharp rise from 952 naira per dollar in January to 1,447 naira per dollar as of the latest update.
Mrs. Ballah emphasized the international dimension of NPA transactions, stating, “First and foremost, NPA transactions are international because maritime businesses are international.” She reiterated that dealing with an international community necessitates the use of a universally accepted medium of exchange, with the dollar being a common currency in international trade.
Addressing concerns about local business transactions, Ballah clarified that while certain operations like barge operations are conducted in dollars due to their international nature, operators have the option to pay in the naira equivalent based on prevailing exchange rates.
She concluded, “So, I don’t think that directive affects all of NPA’s transactions,” indicating that while dollar payments are prevalent in certain aspects of NPA operations, accommodations are made for transactions involving local currency where feasible.
