Friday, 5 February 2016

EXPORT NOTICE FROM THE NIGERIAN CUSTOMS SERVICE


This notice is issued for the information of exporters, agencies and institutions, which are involved in the business of export promotion in Nigeria.
  1. Export business worldwide is mainly about documentation. This is because much reliance is placed on documents relating to price, quantity, packaging, shipment/movement, origin etc., in a bid to confirm adherence to stipulated procedures. The buyer for instance needs documents that would enable him clear the goods in his country while the seller/exporter needs documents to ensure that he will get paid. Consequently, goods may not be exported to destination outside Nigeria unless the exporter has complied with the prescribed documentation requirements.
  2. Anyone willing to engage in export business is required to register with the Nigerian Export Promotion Council (NEPC).
  3. An exporter is required to complete and register Form NXP with an Authorized Dealer (any Commercial or Merchant Bank) of his choice.
  4. The objectives of completing the Form NXP are to ensure:
    1. That goods to be exported meet with the buyer’s expectation (order) since the goods will be subjected to inspection, conducted by relevant Government agencies. Depending on the export items, these include: Plant Quarantine, (Federal Ministry of Agriculture), Federal Produce Inspection Service (Federal Ministry of Commerce and Tourism), National Agency for Food and Drugs (Federal Ministry of Health) and Standards Organization of Nigeria (SON).
    2. That only goods that have satisfied the buyer’s order have been shipped – the Nigeria Customs Service on shipment will duly certify a copy of the form.
    3. That proceeds (payment) due to the exporter are duly repatriated within 90 days of shipment of goods and credited to his Domiciliary Account maintained with the Authorized Dealer that proceed or registered the Form NXP.
  5. Exporters are allowed foreign exchange chargeable to their domiciliary accounts for the following export promotion activities:
    1. Business travel allowance
    2. Export-oriented business trips duly certified and approved by the bank where the domiciliary accounts is maintained.
    3. Export-related activities such as trade missions, trade fairs, export marketing, research etc.
    4. The exporter is also to sell part or all of his export proceeds in this Domiciliary Account for Naira to any Authorized Dealer at the prevailing buying rate in the Autonomous Foreign Exchange Market (AFEM).
    5. Export proceeds from Domiciliary Accounts could also be used by exporter for imports provided the proceeds have been fully repatriated in the first instance.
Procedure and Documentation Requirements
The following are the basic documentary requirements for an export transaction:
  • A duly completed Form NXP
  • A proforma invoice
  • A sales contract agreement, where applicable
  • NEPC registration certificate
  • Relevant certificate of quality as issued by one or more of the agencies stated in 1(d)(1)
  • Shipping documents e.g. bill of exit, bill of lading etc.
  • Other certificates e.g. Form EUR-1
Distribution of Form NXP
The exporter shall complete a form NXP to include the following details:
  • Name and Address of Exporter
  • NEPC Number
  • Description of the goods to be exported
  • Quantities and their measurements
  • Unit cost of goods
  • Total cost of goods
  • Other charges, if any
  • Mode of transportation
  • Name and Address of buyer (consignee)
  • Country of destination
  • Other documents such as phytosanitary certificates, certificate by SON, NAFDAC etc.
The NXP form is completed in six (6) copies. The processing bank shall retain the first copy and the second copy would be sent to the Central Bank of Nigeria (CBN). After extraction of relevant information, the same copy shall be forwarded to the National Maritime Authority (NMA). The third, fourth, fifth and sixth copies shall be sent to the Nigeria Customs Service (NCS). After shipment of the goods and necessary endorsements by the NCS, the copies shall be promptly dispatched to the CBN, the Nigerian Exports Promotion Council (NEPC) and the exporter while a copy shall be retained by the NCS.

Reparation of Export Proceeds
Proceeds should be repatriated into an export proceeds Domiciliary Account maintained with the processing bank within ninety (90) days of shipment with relevant fax or e-mail messages evidencing the receipt of the proceeds. Banks are required to certify the receipt of such proceeds to the Central Bank of Nigeria promptly.

Export Incentive Schemes
In the with the provisions of the 1999 Budget, the various export incentive schemes and funds will be consolidated into the new Manufacturer-in-Bond scheme whereby payment of cash incentives to exporters shall be replaced with the introduction of negotiable Duty Credit Certificate.

***Credit: The Nigerian Custom Service

Sunday, 31 January 2016

CASHEWNUT INVESTMENT ANALYSIS


Cashew Nut export season is starting soon. This commodity is currently in high demand in the International market. Below is the investment analysis, if you are interested in investing in the cashew nut export business.

INVESTMENT ANALYSIS

Commodity: Raw Cashew Nut
Container:    20 Feet
Quantity:      17 Tonnes
                                                                    N                              N                     N
Cost Price/Ton:                                      125,000
Cost Price/Container:                                                    2,125,000
Transportation and Loading:                                           180,000
Ware House Rent:                                                               30,000
Offloading and Loading at Ware House:                           30,000
Final Transportation:                                                        100,000
Freight Forwarding:                                                            75,000
Inspection:                                                                              5,000
Total                                                                               (2,545,000)
FOB Selling Price/Ton( $1 - N198)           $870                                     2,928,420
Profit                                                                                                              383,420

Note: The prices (cost price and selling price) stated here are average prices which the market normally moves around. Therefore, the actual market price for a particular period depends on the interplay of demand and supply in both local and international market which can be a bit lower or higher to the price stated above.
Contact us today, if you are interested in Cashew Nut Exporting Business, for us to put you through. Exporters in need of quality cashew nut can also contact us to get linked to quality suppliers of this product. We are also available to assist importers of Raw Cashew Nut all over the world. 

For inquiries, contact our hot lines: +23438248222. +2348076000259 or E-mail us on: tosfatconcepts@gmail.com

 To your success,
Gbeke Faith
Chief Consultant
TOSFAT Concepts

Saturday, 16 January 2016

CBN LIFTED BAN ON FOREIGN CURRENCY DEPOSIT

The Central Bank of Nigeria in August 2015 placed a restriction on foreign currency deposits. Since then, it has been difficult for most international businesses to perform transactions. To quench this fire, the Central Bank of Nigeria has decided to lift the ban on foreign currency deposits. Deposit Banks have been sending messages to their customers nationwide to sensitize them of this recent development and clearly stating the conditions. Below is a sample of the message:

 Resumption of Transfers for FX Cash Deposits

Dear Customer, 

Resumption of Transfers for FX Cash Deposits

 
We are pleased to inform you that you can now transfer Foreign Currency Cash deposits made into your GTBank domiciliary account(s) via Internet Banking, Mobile App or at any of our branches nationwide, subject to a daily cumulative limit of $10,000. 
 
Thank you for banking with us.

GTConnect
GTBank Social Media Icons

Tuesday, 5 January 2016

CASHEW NUT EXPORTATION BUSINESS OPPORTUNITY

Cashew Nut export business is a seasonal money spinning business in the first quarter of the year. If you remove the first four words in CASHEW it reads CASH. So,Prepare ahead to make some CASH exporting CASHEW NUTS. Now, let me give you some information on Cashew Nuts. 

Description
Cashew (Anacardium Occidentale L.) is a tree crop of considerable economic importance to Nigeria and other tropical countries. Apart from being a source of useful products and byproducts for food, medicinal and industrial applications, cashew gives also a useful shade, while ornamental and alley trees are suitable for the control of soil erosion, particularly for the protection of watersheds and dams.

Harvest
Cashew nut setting begins in the middle of dry season, while harvesting takes place mainly in February or March. The entire harvest period occupies about 16 weeks. In the Eastern and Western parts of the country, where quality cashew nuts are grown, nuts are allowed to drop to the ground before they are collected. This practice ensures that only ripe nuts are collected. Nuts normally fall to the ground with their apples attached; the two are normally separated with a twisting action during collection. The remnants of the apple flash adhering to the nuts are removed with a sharp knife. After picking, the nuts are dried in the sun for 2 to 3 days, to reduce their moisture content to about 12 %. Properly dried nuts are packed in jute bags and can be kept for 6 to 10 months, if stored in suitable condition.

Locations
Major cashew growing areas in Nigeria are, by order of importance: Enugu, Abia, Imo, Anambra, Ebonyi and Cross River States in the eastern part of the country; Oyo, Osun, Ondo, Ekiti and Ogun States in the Western part, as well as Kwara, Kogi, Nassarawa, Benue, Taraba, Niger and FCT in the Middle Belt and also Sokoto and Kebbi States in the North West part of the country. The majority of export quality nuts come from the Western and Eastern parts of the country.

Specification
According to SGS (quality inspectors), the standard for raw cashew nuts, unshelled, is specified as follows:
i. Nut count 180-200 per kg
ii. Moisture content 8-10% max
iii. Defective nuts 15% max
iv. Float Rate 18% max
v. Admixture 0.25% max
vi. Foreign matter 0.25% max
vii. KoR, or shelling out-turn 48-50 Ibs/bag

Uses
The cashew nut is a popular snack, and its rich flavor means that it is often eaten on its own, lightly salted or sugared. In addition to this, cashew nutshell liquid (CNSL), a by-product of processing cashew, is mostly composed of anacardic acids. These acids have been used effectively against tooth abscesses due to their lethality to bacteria.

Export market
The major buyers of cashew nut from Nigeria are mainly India and Singapore. Smaller percentage goes to Europe.

If you are interested in learning about CASHEWNUT EXPORTING BUSINESS, subscribe to our NON-OIL COMMODITY(Agricultural and Solid Minerals) EXPORT BUSINESS START-UP CONSULTING SERVICE, send us a mail with the subject "REGISTRATION" to tosfatconcepts@gmail.com and we will send you the registration details.

For existing exporters of Agricultural and Mineral Commodities, we can assist you with our NON-OIL COMMODITY EXPORT BUSINESS MANAGEMENT CONSULTING SERVICE. Our solutions covers challenges in major stages of non-oil commodity export business. Let us know the challenges you are facing right now and we will be willing to help you out. Send us a mail for more information on this service.
  
Also we can assist international buyers from India, Vietnam, United States, China, Belgium, Russia and other parts of the world that are interested in buying Cashew Nut from Nigeria. 
If you are interested in any of our services, contact us with the information below:
               tosfatconcepts@gmail.com
Phone: +2348076000259
              +2348038248222

Thank you for sparing your precious time in reading this report.

To your Success,

Gbeke Faith   
Chief Consultant

Thursday, 24 December 2015

THE MOST LUCRATIVE BUSINESS OPPORTUNITY FOR THE YEAR 2016


Considering the recent state of the Nigerian economy, you will agree with me that most individuals and corporate organizations are seriously affected.  Government workers are sacked in some states, companies also retrench lots of workers and salaries are yet to be paid in some government and private organizations. The big fall in the exchange rate of Dollar to Naira which is continuously sliding to almost N300 to 1 US Dollars on the parallel market is seriously causing inflation in the Nigerian economy. The price of imported products have skyrocketed and most importers do not have enough dollars to import goods as  the CBN is currently supplying lesser amount to the BDC’s to protect the foreign revenue reserve. Due to this situation, some importers are presently counting their losses. 

In the face of all this, some analysts are still predicting a situation which is worse than this in 2016. Then, if you have been affected with this situation, will you keep on watching without taking a step out of this problem?  Or if you have not been affected, will you wait till you are affected before you can do something. The Nigerian economy has been living off on oil revenue for so many years but the crash in the price of oil and other challenges the Nigerian crude oil is facing has worsen the economy.  

To succeed in your business career in the year 2016, you need to diversify into Agricultural Commodity and Solid Minerals Exportation Business. This is the most lucrative business opportunity that gives you the opportunity of leveraging on the current economic situation and improving the opportunity of earning dollars into the Nigerian economy.  This is more beneficial if you are previously into importation business, because you can use the dollars you earned in the Agricultural Commodity and Solid Minerals Exportation Business, to pay your buyers through direct swift transfers. Nigeria is blessed with a lot of agricultural and mineral resources that are in great demand in various part of the world and the beauty of it is, these commodities are cheaper to buy, easy to source in Nigeria and resell at a higher price in other continent of the world. Many industries and end users are seriously in need of agricultural/mineral commodities from Nigeria. Example of some of these agricultural commodities are: Hibiscus Flower, Dried Split Ginger, Garlic, Alligator Pepper, Shea Butter e.t.c and examples of some of these mineral commodities are: Lead Ore, Zinc Ore, Copper Ore, Manganese Ore, Iron Ore, Talc e.t.c. 

You can participate in this business either on a large scale or small scale depending on your capital base.  For busy individuals, you can also start this business as an arm chair exporter if you have a day-to-day job that consumes a lot of your time. Starting as an arm chair exporter for busy individuals will give you a total control over your business without handing your capital over to someone else.There is a popular saying that says, “A stitch in time, saves nine”. It is time for you to take a step to:

·          Empower your financial life 
·         Improve your business career 
·         Stop being afraid because of the fear of retrenchment 
·         Get your financial life back to normal 

Then what are you waiting for? 

Contact us today, we will hold you and walk you step-by-step through the business process. You can subscribe to our NON-OIL COMMODITY(Agricultural and Solid Minerals) EXPORT BUSINESS START-UP CONSULTING SERVICE. We offer basically two solutions under this service:
a. Non-Oil Commodity Export Business Online Training Solution.
b. Non-Oil Commodity Export Business Set-up Solution. 
 The special benefit of subscribing to our NON-OIL COMMODITY(Agricultural and Solid Minerals) EXPORT BUSINESS START-UP CONSULTING SERVICE is that we will give you a month free mentoring service on the business, covering the following areas:
      • Export Business Setup 

      • Local Commodity Sourcing

      • Quality Control and Specification

      • Documentation and Logistics

      • Buyer Management

To subscribe to our NON-OIL COMMODITY(Agricultural and Solid Minerals) EXPORT BUSINESS START-UP CONSULTING SERVICE, send us a mail with the subject "REGISTRATION" to tosfatconcepts@gmail.com and we will send you the registration details.

For existing exporters of Agricultural and Mineral Commodities, we can assist you with our NON-OIL COMMODITY EXPORT BUSINESS MANAGEMENT CONSULTING SERVICE. Our solutions covers challenges in major stages of non-oil commodity export business. Let us know the challenges you are facing right now and we will be willing to help you out. Send us a mail for more information on this service.

For more inquiries, contact us with the information below: 

Phone: +2348076000259 
             +2348038248222 

To your success!

Gbeke Faith

Chief Consultant

TOSFAT Concepts



Tuesday, 24 November 2015

INTERNATIONAL BUSINESS OPPORTUNITY ON DRIED SPLIT GINGER EXPORTATION BUSINESS





Ginger is a spice that is highly valuable in the international communities. It’s scientific name is Zinzigiber officinale and it is often dried artificially or through the sun to 10% - 12% moisture content. It is recognized for its pungency, aroma, aleo resin and high oil content. In the international market, buyers often prefer the ginger to be splitted that is why it is normally called DRIED SPLIT GINGER in the world market.



Ginger harvesting season starts from the month of October through April. Nigeria is the third largest producer of Ginger all over the world and it can be sourced in the following locatios:
  • Kaduna
  • Nasarawa
  • Benue
  • Gombe
  • Kaduna
  • Niger
In various countries, ginger is used for different purposes. Below are some of the uses of dried split ginger:
     It is used in the confectionery industry
     It is used in the pharmaceutical industry
     It is used in the beverage industry
     It is used in cooking especially in the Africa, Asia and the Caribbean
     It is used as alternative medicine for various health conditions

Countries interested in buying Dried Split Ginger are: United Kingdom, Germany, Spain, Netherlands and France. Buyers tend to give their specifications depending on what they are using the Ginger for. Below is the specification most buyers often quote:
  • Moisture content:                  6-10% max
  • Oil content:                            1-2%
  • Impurities:                             0-2%max 
The local price is within N500,000 - N600,000/Ton. 
Contact us today, we will hold you and walk you step-by-step through the business process. You can subscribe to our NON-OIL COMMODITY(Agricultural and Solid Minerals) EXPORT BUSINESS START-UP CONSULTING SERVICE. We offer basically two solutions under this service:

a. Non-Oil Commodity Export Business Online Training Solution.
b. Non-Oil Commodity Export Business Set-up Solution. 

 The special benefit of subscribing to our NON-OIL COMMODITY(Agricultural and Solid Minerals) EXPORT BUSINESS START-UP CONSULTING SERVICE is that we will give you a month free mentoring service on the business, covering the following areas:
      • Export Business Setup 

      • Local Commodity Sourcing

      • Quality Control and Specification

      • Documentation and Logistics

      • Buyer Management

To subscribe to our NON-OIL COMMODITY(Agricultural and Solid Minerals) EXPORT BUSINESS START-UP CONSULTING SERVICE, send us a mail with the subject "REGISTRATION" to tosfatconcepts@gmail.com and we will send you the registration details.
For existing exporters of Agricultural and Mineral Commodities, we can assist you with our NON-OIL COMMODITY EXPORT BUSINESS MANAGEMENT CONSULTING SERVICE. Our solutions covers challenges in major stages of non-oil commodity export business. Let us know the challenges you are facing right now and we will be willing to help you out. Send us a mail for more information on this service.

If you are interested in any of our services, contact us with the information below:
               tosfatconcepts@gmail.com
Phone: +2348076000259
              +2348038248222

To your success!
Gbeke Faith
Chief Consultant
TOSFAT Concepts