The restraint order on Customs Modernization Project has been disannulled by the Sitting Judge, Justice I.E Ekwo at the Federal High Court, Abuja on the 22nd of July, 2022.
The interim order has for the past few weeks impeded the Nigeria Customs Service Modernisation project, following a suit instated by Bionica Technologies (West Africa) Limited.
The Company, which is a special purpose Vehicle, is working with Huawei Technologies Limited as the Lead Technical Partner and the Africa Finance Cooperation as the lead financier for the project.
Recall, that a Nigerian Company, Trade Modernization Project Limited signed a 20-year concession agreement with the Federal Government of Nigeria on the 30th of May, 2022 with the aim of improving the business processes of the Service.
According to Justice Ekwo, it was important to discontinue the order, as it was affecting the revenue collection of the Federal Government.
The annulment of the order means that the very important project, as part of the Federal Government's effort to diversify the Economy can now proceed without further hindrance.
The Customs Modernisation Project will fully automate the Nigeria Customs Service business processes, both operationally and administratively. It will usher in a new era of fully computerized and paperless Customs. This will enhance the profile of the country as a foremost facilitator of trade, an important global development practice, in line with the requirements of the World Customs Organisation (WCO).
https://news.ncbn.ng/2022/07/23/customs-modernization-project-set-to-kick-start-as-court-vacates-restraint-order/?s=08
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