Set Up Tripatite Committee To Coordinate FMP – Reps

Set Up Tripatite Committee To Coordinate FMP – Reps

By Oduyemi Odumade

The House of Representatives Committee on Customs and Excise has called for the setting up of a Tripartite committee that will provide a coordinated platform on fiscal and monetary policies for the country.

Chairman of the Committee, Leke Abejide who made the call during an interactive with the Comptroller General, Nigeria Customs Service, Bashir Adewale Adeniyi said the tripartite Commitee would Comprise of the Central Bank of Nigeria, Ministry of Finance and the Nigeria Customs Service.

He also called for implementation of the House resolution of 90 days notice for any change in policy so that investors and importers are not taken unawares of any policy change.

“Considering the complex interplay between fiscal and monetary policies and their impact on trade, I would like to propose the formation of a Tripartite committee.

“This Committee will serve as a platform for open and transparent dialogue on fiscal and monetary issues as it affects trade, ensuring thorough discussion and analysis of crucial decisions before their implementation.

“Such collaborations will facilitate a more robust and coordinated approach to trade policies, mitigating potential disruptions and fostering a conducive anvironment for economic growth”.

“Just last week, investors woke up only to discover that, exchange rate has been raised from N784 to N951 per Dollar without any notice”.

“I received uncountable number of calls because people mistakenly thought it came from Nigeria Customs Service”.

Members of the committee expressed concern about the multiple check points mounted by the Customs Service across the country and the need to work in close collaboration with border communities in curbing smuggling and enhancing activities of Customs.

In his response, the Customs boss, Adewale Adeniyi said the service was already working closely with border communities, but expressed concern about the lack of basic amenities in such communities.

He said there was the need for the Nigerian government to pay attention to border communities by providing them with some basic amenities.

According to him, the service plans to embark on construction of some basic amenities in some border communities in 2024 and sought the support of the lawmakers to achieve that.

Edited By Grace Namiji