SEREC seeks 4% FOB replacement with 1% CISS levy

The Sea Empowerment and Research Centre (SEREC) has urged the Federal Ministry of Finance to reinstate the former one per cent Comprehensive Import Supervision Scheme (CISS) levy as an interim funding mechanism to replace the Nigeria Customs Service’s (NCS) suspended four per cent Free-on-Board (FOB) charge on imports to ensure clarity and stability in trade administration.