Nigerian importers and exporters face a lot of challenges in their day to day business.
From Nigeria Customs Service and other regulatory authorities to changing government policies and regional trade agreements and protocols, the traders find themselves sometimes overwhelmed.
Importers in particular always complain against the regulatory and law enforcement authorities’ high-handedness and exploitation.
On the flip side, one also hears Customs and other government agencies in the import supervision process complaining about importers’ non-compliance to trade laws and regulations. They often accuse the shippers and their agents of trade malpractices, which are the main cause of seizures and clearance delays at the ports and other international entry ports.
Thus, in the country’s import and export business, there are lots of conflicts that result from importers and exporters ignorance and noncompliance with regulations and laws governing international trade. All these delays increase the cost of doing business for the importers because of the extra expenses they incur.
As a result of this low-level of compliance and resultant conflicts, many importers in particular and their agents suffer in the hands of Customs officials and regulatory agencies. They expose themselves to unnecessary exploitation and over-payment of import duties and other statutory charges.
It is against this backdrop that International Trade Advisory Services Limited (ITASL) was established to guide importers and exporters and their agents to do the right things and avoid frustrations and exploitation by government agencies. Apart from providing guidance to importers and exporters, ITASL will help them recover excess or unjustified payments from customs and regulatory agencies.
Floated by an international trade expert and seasoned business journalist, Mr. Okey Ibeke, International Trade Advisory Services Limited was born to provide a range of services to Nigerian importers, exporters and their agents. This range of services include: classification of imports, harmonized tariff, valuation determination, post clearance audit assistance and jurisdiction determination.
Others include voluntary disclosures and appeals, compliance assessment, training and support, duty recovery and duty drawback, rules of origin and free trade agreement compliance reviews.
Speaking to journalists recently at a press conference marking the unveiling of the indigenous trade advisory firm, the Principal Consultant and Chief Executive Officer, Okey Ibeke, said “some importers willfully refuse to comply with the laid down rules and regulations, but majority of them do it out of ignorance.
“So what we do here basically is to advise importers, exporters/
He advised Nigerian importers, exporters and customs agents to avail themselves of the services of international trade experts such as ITASL in their business transactions in order to cut down the high cost of doing international businesses.
According to ITASL Chief Executive Officer, using the services of trade experts such as International Trade Advisory Services Limited will enable importers and exporters avoid over-payment of duties and charges.
“There is no room for error in the Customs and compliance arena. That’s why International Trade Advisory creates values that are based on efficiency to help our clients avoid bottlenecks, compliance hurdles and other legal ramifications, stemming from unintended trade infractions,” he stated.
He added that apart from knowing the right thing to do, consulting the experts will enable international trade operators recover excess charges from Customs and other regulatory agencies, when they’re overcharged.
He said many companies or importers are not aware that they can recover excess duty paid on imported goods. And the agencies capitalize on their ignorance to continue to exploit them.
Ibeke observed that changes in world trade are posing challenges, trade deals are made and reviewed, tariffs are imposed, regulatory and customs processes are fast changing, while regional trade agreements come with their complexities. All these could be overwhelming for importers and exporters.
ITASL with its team of experts, he said, can handle all the international trade complexities so that client companies can have seamless and profitable transactions.
Reiterating that Nigerian importers, exporters, corporate organizations and manufacturers encounter a lot of conflicts and difficulties in the interpretation of import and export regulations, he said ITASL was established to help them resolve such conflicts, advise and guide them on how to comply with customs laws both in Nigeria and other jurisdictions.
International Trade Advisory Services Limited parades experts with deep knowledge of international trade and protocols who offer advisory and mediation services to exporters on steps to be taken to ensure that their exports are not rejected or lost in transit.
The advisory services consultants “apply appropriate procedures to determine the proper harmonized tariff classification on imports and exports and provide a complete audit trail to support classification claims.
According to the CEO, “We offer free consultation to determine if the possibility of duty recovery exists. If there is potential for duty, tax or fee recovery, we work with our client to determine the approximate amount and which methodology should be used to maximize claims.
Each draw back claim involves a very detailed analysis of the client’s imports and exports and the collection of supporting documentation, all within complex legislation and strict regulation. Apart from and program set up fee, there is no upfront cost to our clients till the duty is recovered,” he said.
Ibeke explained that the company’s recovery specialists will analyze and review import transactions and duty paid by its clients to find opportunities for recovery.
Speaking on international trade agreements like AfCFTA and ETLS, Ibeke said the company guides manufacturers on how to exploit the opportunities that abound in those continental and regional trade agreements.
“We also advise our clients on valuation matters. If you declare your goods properly, you would not have problems. Though you pay high duty, but when you decide to start giving gratifications to officials, it all amounts to the same thing; your cargo is delayed at the port, the demurrage increases.”
“So we advise our clients on how to go about their businesses in order to clear their cargo without any hiccups. We also offer defence for our clients whenever they are cheated by customs.”
International Trade Advisory Services Limited is an innovative indigenous brand established by highly trained and experienced professionals to provide technical and operational support on customs and other regulatory compliance matters for organizations that engage in international trade across international borders.
The vision of the company is: “to be recognized as the dependable customs and compliance services company, creating dynamic, integrated solutions for customers in Nigeria who do business globally,” while its mission is “to clear the way for our clients, so businesses can go faster, smarter, which are platforms for growth.
