The Federal Government approved the implementation of the International Cargo Tracking Note (ICTN) by the Nigerian Shippers’ Council. The ICTN also known as Advance Cargo Declaration System (ACD) is a global initiative to monitor and verify cargo on transit from port of origin to port of destination.
ICTN is a high tech tool that:
- Provides real-time monitoring of security plan of vessels;
- Allows real time generation of advanced information on cargo, including type, origin, quantity and other shipment information;
- Generates automatic information alert for the port of destination.
Benefits of the Advance Cargo Declaration
- Enhances security and safety of ports and cargo.
- Prevents under-declaration of Gross Registered Tonnage (GRT) of ship.
- Prevents under-declaration and concealment of cargo.
- Improves revenue accruable to government.
- Hastens Vessel Reception and Cargo Clearance Procedures.
- Reduces cargo dwell time and ultimately reduction of costs of doing business.
- Enhances the determination of freight cost and actual value of sea freight in the transport chain.
- Provides credible data and statistics on oil sales, import and export volume, etc.