Insurance Cover to Replace Container Deposit Soon, Says Shippers Council
By Francis Ugwoke
The Nigerian Shippers Council (NSC) weekend said the days of nightmare suffered by shippers and their customs agents as far as refund of container deposits to shipping companies is concerned will soon be over.
The ports economic regulator said the Council plans to replace container deposit with insurance policy for empty containers in possession of the importers.
The Executive Secretary, NSC, Mr Hassan Bello, who disclosed this weekend during a press conference explained that it was to address decades of issues associated with refund of container deposits from shipping companies.
Bello disclosed that the Council has already held meetings with the National Insurance Commission (NAICOM), adding that the Commissin has promised to get members to offer insurance policies.
He accused shipping companies of deliberately delaying refund of the deposits paid by the importers after the empty containers had been returned.
He also added that what was annoying was that through no fault of his, the shipper cannot even return the container to shipping companies who have no holding bays.
It would be recalled that the Nigerian Ports Authority (NPA) had directed the shipping companies to provide their own holding bays where empty containers can be stored.
The idea is that empty containers being returned are kept in the holding bays until the shipping companies are ready to return them overseas.
Bello promised that the replacement of container deposit will be effected in the second quarter of this year.
He also advised importers and their customs agents to embrace the planned policy to save them from the billions of Naira being paid to shipping companies who in most cases have remained reluctant to refund the money.
According to the Council the sum of N16billion was paid to shipping companies as container deposit as at 2018.
The Nigerian Shippers Council (NSC) weekend said the days of nightmare suffered by shippers and their customs agents as far as refund of container deposits to shipping companies is concerned will soon be over.
The ports economic regulator said the Council plans to replace container deposit with insurance policy for empty containers in possession of the importers.
The Executive Secretary, NSC, Mr Hassan Bello, who disclosed this weekend during a press conference explained that it was to address decades of issues associated with refund of container deposits from shipping companies.
Bello disclosed that the Council has already held meetings with the National Insurance Commission (NAICOM), adding that the Commissin has promised to get members to offer insurance policies.
He accused shipping companies of deliberately delaying refund of the deposits paid by the importers after the empty containers had been returned.
He also added that what was annoying was that through no fault of his, the shipper cannot even return the container to shipping companies who have no holding bays.
It would be recalled that the Nigerian Ports Authority (NPA) had directed the shipping companies to provide their own holding bays where empty containers can be stored.
The idea is that empty containers being returned are kept in the holding bays until the shipping companies are ready to return them overseas.
Bello promised that the replacement of container deposit will be effected in the second quarter of this year.
He also advised importers and their customs agents to embrace the planned policy to save them from the billions of Naira being paid to shipping companies who in most cases have remained reluctant to refund the money.
According to the Council the sum of N16billion was paid to shipping companies as container deposit as at 2018.
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