Expert Urge Customs To Halt Grimaldi’s Illegal Dollar Sales of Containers

…Audit 30 Years of Shipping Line Violations

BY FUNMI ALUKO

Trade Consultant Okey Ibeke has alleged the breach of the Nigeria Customs Act and the CBN FX rules as shipping firms sell empty containers without duty payment.

Nigeria may have forfeited more than $600 million in customs duties, VAT, and other statutory levies over the past three decades due to the unauthorized sale of empty shipping containers by foreign shipping lines, according to international trade consultant, Mr. Okey Ibeke.

Addressing maritime journalists in Lagos, Ibeke, Principal Consultant at International Trade Advisory Services, urged the Comptroller General of the Nigeria Customs Service (NCS) to immediately suspend all container sales by Grimaldi Agency Nigeria and other shipping firms until a comprehensive audit is conducted.

His call is coming on the heels of reports that Grimaldi Agency Nigeria intends to sell over 2,500 empty containers locally. The reported sales and terms so far unrefuted by Grimaldi include $2,000 per 40ft container and $1,600 per 20ft unit, with inspection, permitted at the terminals.

That is not all, invoices are to be issued strictly in USD, and payments made made via domiciliary accounts before release are made.

“This is happening while the Federal Government, through the Central Bank of Nigeria (CBN) and Ministry of Finance, is working to stabilize the Naira and curb dollarization of domestic transactions,” Ibeke noted.

Ibeke emphasized that the violation lies not in pricing but in legality. Containers enter Nigeria under Temporary Import status, meaning they are intended solely for cargo carriage and must be re-exported. Local sale is only permissible if converted to permanent import through NCS procedures; he argued.

According to the veteran journalist cum international business analyst and consultant, under the NCS Act 2023 and Temporary Import Guidelines, conversion requires the following:

Application to NCS, Customs valuation, Payment of duties, VAT, and levies into government accounts, and Issuance of a release order. He notes that only then can containers be sold legally in Nigeria, emphasizing that transactions must be in Naira unless exempted by the CBN.

“With Grimaldi, Step 5 is happening without Steps 1–4. That is illegal,” Ibeke declared.

Using the 2026 tariff for HS Code 86.09 (5% duty, 7.5% VAT, 0.5% ECOWAS ETLS, 4% FOB levy), Ibeke calculated losses of $350–$400 per container sold without conversion. For 2,500 units, this equates to $875,000–$1,000,000 lost in a single transaction.

Extending the analysis, he estimated that if 250,000 containers were sold locally over 30 years at an average $1,500 without duty payment, Nigeria lost over $375 million in duties and VAT, exceeding ₦600 billion at current exchange rates.

“That is money that should fund roads, schools, hospitals, and debt servicing,” he stressed.

Ibeke pointed out that Grimaldi is not alone. For decades, major shipping lines including Maersk, MSC, CMA CGM, Hapag-Lloyd, COSCO, ONE, Evergreen, and PIL, he notes have operated similarly in Nigerian ports.

He linked the issue to Nigeria’s trade imbalance where imports account for 75% of dry cargo, while exports stand at just 15%. With minerals oil and comprising 70% of exports but not containerized, ships arrive full but depart 97% empty. The cost of repatriating empties ($2,000–$4,000 per 20ft container) incentivizes shipping lines to abandon or sell them locally.

The press briefing also highlighted recurring grievances from importers and clearing agents, including:

Arbitrary demurrage charges billed in USD

Lack of invoice breakdown

Delayed refund of deposits

Forced use of nominated transporters

Rejection of Naira payments

Withholding of Telex Release/Bills of Lading until charges are settled

Citing multiple violations, Ibeke quoted the following:

NCS Act 2023: Section 36 mandates re-export or conversion with duty payment; Sections 245–249 empower Customs to detain, seize, and penalize.

CBN FX Manual 2018: Paragraph 9.01 requires Naira for domestic transactions; domiciliary accounts are for foreign inflows only.

Nigerian Ports Authority Temporary Import Guidelines: Containers must be reconciled on exit or conversion.

Nigerian Shippers’ Council Regulations 2015: Mandate Naira for local charges and prohibit unfair practices.

With unmistaken concern and passionate appeal, Ibeke urged the NCS leadership  to:

*Suspend all container sales by Grimaldi and others pending investigation

*Conduct a system-wide audit of shipping lines from 2006 to date

*Reconcile NPA gate records with NCS manifests to identify unconverted containers

*Recover outstanding duties and penalties, and

*Sanction violators under Sections 36 and 245, including license suspension.

“This is not about driving away investors. It is about enforcing the law and protecting Nigeria’s revenue at a time when government urgently needs funds to stabilize the economy and pursue President Ahmed Tinubu’s Renewed Hope Economic Agenda,” Ibeke concluded.