CBN approves Parallex bank for NESS collection

The Central Bank of Nigeria has granted approval for Parallex Bank to collect Nigeria Export Supervision Scheme fees.

The approval was given in a circular signed by Dr. W.J. Kanya on behalf of the Director of the Trade and Exchange Department at the apex bank. In the circular, Parallex Bank Limited was added to the list of approved banks authorised to collect NESS fees.

NESS Fee is a mandatory payment to the Federal Government for all legitimate goods exported from Nigeria, encompassing both non-oil and oil-based products.

Dr. Kanya noted that this approval was granted under the auspices of the Minister of Finance, Budget, and National Planning, Wale Edun and called upon all authorized dealers and service providers to take note of this significant development.

Source: punch