Shippers Council, NICON move to avert N670m loss to container deposit

By Godfrey Bivbere & Providence Adeyinka

The Nigerian Shippers Council, NSC, and the National Insurance Company of Nigeria, NICON, have finalised measures to curb the loss of about N670 million suffered by shippers in the country over failure to return empty containers within   the time specified by shipping lines.  

Shippers pay container deposits to shipping lines namely, N300,000 for a 40 foot container or   N150,000 for a 20 foot container. However, the shipper forfeits the deposit if the container is not returned to the shipping line within the   grace period which is usually two to three weeks.  

Disclosing this yesterday to Vanguard in an exclusive chat in his office, the Executive Secretary and Chief Executive Officer, CEO of the NSC, Hassan Bello, explained that…

Read All From The Original Article On Vanguard

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