UBA Among Highest Traded Stocks Last Weekend EU Sets New Rules For Inbound Air Shipments

Starting from March 1, 2023, all freight forwarders, air carriers, express couriers, and postal operators transporting goods to or through the European Union (EU) (including Norway and Switzerland) will be required to submit advance cargo information in the form of a complete Entry Summary Declaration (ENS), under the second phase of the EU’s new customs pre-arrival security and safety programme – Import Control System 2 (ICS2) Release 2.

The EU Import Control System 2 (ICS2) is a large-scale initiative to enhance customs oversight of the movement of goods prior to their arrival at the EU external borders (air, maritime, land and inland waterways).

ICS2 enables customs authorities to identify high-risk consignments that necessitate early intervention, while facilitating legitimate trade into the customs territory of the EU, Norway, and Switzerland.

According to EU, economic operators involved in handling, sending, shipping and transporting cargo, express or postal consignments to or via the EU by air have to comply with new advance data reporting requirements for pre-loading and pre-arrival customs risk assessments.

By collecting data about all goods entering the EU prior to their loading and arrival, ICS2 supports effective risk-based customs controls while facilitating free flow of legitimate trade across the EU’s external borders. ICS2 will simplify the movement of goods between customs offices at the first point of entry and final destination in the EU.

For economic operators, ICS2 will streamline requests for additional information and pre-departure risk screening by customs authorities.

In addition to air carriers’ ENS filing responsibilities under the multiple filing regime of Release 2, freight forwarders, express couriers, and postal operators will also be legally responsible for providing data. They either have to share it with the air carriers, who will then complete the ENS filing requirements, or submit the data directly to ICS2.

L-R: Chairman, Smartcash PSB Ltd, Dr. Kingsley Umadia; Lagos State Commissioner for Finance, Dr. Rabiu Olowo; Chief Human Resources Officer, Airtel Africa, Rogany Ramiah; Group Chief Executive Officer, Airtel Africa, Dr. Segun Ogunsanya; Special Advisor to the President on Social Investments, Mrs. Maryam Uwais; Managing Director and Chief Executive Officer, Airtel Nigeria, Surendran Chemmenkotil and Chief Executive Officer, Smartcash PSB, Muyiwa Ebitanmi at the launch of Smartcash PSB at Eko Hotel and Suites, Victoria Island, Lagos on June 30, 2022. Photo: Peace Udugba.