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The Nigerian Export Supervision Scheme, NESS has about 19 designated banks under its wings approved by the Central Bank of Nigeria, CBN and the minister of finance for the collection of export payments and fees.
The NESS is a statutory payment to the Federal Government on all legitimate non-oil and oil/gas exports from Nigeria.
The fee, 0.5% administrative charge of the value of the export and 0.15% of FOB is collected by the Central Bank of Nigeria through designated banks.
Under the NESS, all exports from Nigeria are subject to inspection by government-appointed agents prior to their shipment.
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CBN Designated banks under NESS
The CBN recently announced the approval of Titan Trust Bank by the honourable minister of finance, budget and national planning, as one of the fees collection banks under NESS. This is an up to date list of designated banks after several banks in Nigeria were merged:
- Access Bank plc
- CitiBank Plc
- ECO Bank Plc
- First City Monument Bank, FCMB
- First Bank Plc
- Fidelity Bank Plc
- Guarantee Trust Bank, GTB
- Heritage Bank
- Keystone Bank
- Mainstreet Bank
- Polaris Bank
- Stanbic IBTC Bank
- Sterlin Bank
- Unity Bank Plc
- United Bank for Africa, UBA
- Union Bank of Nigeria
- Wema Bank Plc
- Zenith Bank Plc
- Titan Trust Bank
The NESS is the federal government’s initiative to manage the quality and quantity of goods leaving Nigeria. More so, the NESS handles the export regulations and compliance from exporters.
