Listen to story here
The African Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has condemned an advertisement by Grimaldi Group’s Nigerian agency offering empty containers for sale in United States Dollars, describing the move as a threat to Nigeria’s economic stability and contrary to the Federal Government’s Renewed Hope Agenda.
In a statement signed by its National President, Otunba Frank Ogunojemite, the association said pricing locally available assets in foreign currency amounts to the dollarization of domestic transactions and undermines efforts to strengthen the naira.
APFFLON argued that at a time the Federal Government and the Central Bank of Nigeria are pursuing policies aimed at stabilizing the economy and reducing pressure on foreign exchange, denominating container sales in dollars is both economically disruptive and anti-local content.
According to the association, empty containers located within Nigeria have no justification for being sold in foreign currency, especially when freight forwarders, importers and most industry operators earn and transact in naira.
The group warned that such practices could frustrate ongoing reforms under President Bola Tinubu’s Renewed Hope Agenda by increasing dependence on foreign exchange, weakening confidence in the naira and creating avoidable distortions in the maritime and logistics sector.
“It is deeply concerning that a company operating within Nigeria would choose to denominate local transactions in a foreign currency at a critical time when government is intensifying efforts to strengthen the naira,” APFFLON said.
The association described the development as capable of sabotaging the government’s economic recovery efforts if left unchecked.
APFFLON therefore called on the Federal Government, the Central Bank of Nigeria and the Nigerian Shippers’ Council to intervene immediately by enforcing compliance with policies mandating the use of naira for domestic transactions.
It stressed that stronger regulatory clarity and enforcement are urgently needed to prevent what it called further economic distortions in the maritime sector.
The freight forwarders’ group also urged operators and stakeholders across the industry to align business practices with national economic priorities, emphasizing that Nigeria’s recovery efforts require collective responsibility.
According to APFFLON, no operator should engage in practices capable of undermining the country’s financial sovereignty or placing additional strain on the foreign exchange market.
Reaffirming its commitment to protecting the interests of Nigerian freight forwarders and supporting reforms that promote sectoral growth, the association maintained that the maritime industry must contribute positively to national development rather than adopt practices that weaken the local currency.
