Grimaldi denies allegation

By Godwin Oritse

International Trade Advisory Services has alleged that Grimaldi Shipping Company, operators of Port and Terminal Multi-Services Limited (PTML), has planned to deprive the Nigerian government of over ₦600 million in revenue through the illegal sale of empty containers.

In a statement, the Principal Consultant of International Trade Advisory Services, Mr. Okey Ibeke, argued that Nigerian law does not recognize the concept of “foreign customs status” once goods are physically present in Nigeria and have come into the possession of a Nigerian buyer.

According to Ibeke, Section 36 of the Nigeria Customs Service (NCS) Act 2023, as well as the Temporary Importation Guidelines, require that any container brought into Nigeria for use within the country must first be converted from temporary to permanent import status before ownership or possession can be legally transferred.
Recall that Nigeria has lost over $600m in 30yrs over illegal sale of empty containers by shipping lines operating in Nigeria.

Ibeke, has said that Nigeria may have lost $600 million in customs duties and Value Added Taxes(VATs), an equivalent of over N600 billion over illegal sale of dollar dominated empty containers by Grimaldi and other shipping lines.

Ibeke who was reacting to the planned sale of over 2,500 empty shipping containers by Grimaldi Agency Nigeria called on the Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi to immediately suspend all sales of containers by Grimaldi Agency Nigeria and other shipping lines pending a full audit.

The trade tied the root cause to a structural trade imbalance that shipping lines have long exploited.

According to him, Nigeria’s import-to-export ratio in dry cargo stands at roughly 75 to 15 per cent, with oil and minerals which account for 70 per cent of exports moving outside the containerised shipping system where ships arrive full and leave almost entirely empty, making repatriation economically unattractive.

He explained that sending a 4,500-TEU vessel of empties back to Asia or Europe costs approximately $9 million; repositioning a single 20-foot empty container costs between $2,000 and $4,000. With outbound volumes too thin to justify the cost, lines operating in Nigerian ports Maersk, MSC, CMA CGM, Hapag-Lloyd, COSCO, ONE, Evergreen, PIL, and others have for decades found it more profitable to quietly sell the containers than ship them home.

Ibeke flagged the currency dimension as a separate and equally serious violation.
“If 250,000 containers were sold without duty payment at an average value of $1,500, Nigeria lost over $375 million in duties and VAT over N600 billion at today’s rate in 30 years. Money that should fund roads, schools, hospitals, and debt service.
“Under the Nigeria Customs Service Act 2023 and Temporary Import Guidelines, conversion, Ibeke said, ” requires: application to NCS, Customs valuation, payment of duties, VAT and levies into government accounts, and issuance of a release order. Only then can the container be sold legally in Nigeria, and the transaction must be in Naira unless the CBN grants an exemption. With Grimaldi, Step 5 is happening without Steps 1-4. That is illegal.”

Reacting to the development, the management of Grimaldi denied in a statement said “We did not slate 2,500 containers for sale.” after being silent for three weeks.