Section 126: Warehousing procedure

1 Upon the arrival of any goods at a bonded warehouse, the warehouse keepers shall immediately report the arrival to the proper officer, and where the warehouse keeper fails to report the arrival of any goods, he is liable to a fine of N3,000,000.

2 Goods which are declared for warehousing shall be deemed to be duly warehoused from the time the goods are certified by the Service and entered into the record inventory of the warehouse operator.

3 Except as otherwise provided in this Part or as may be permitted by the Service, all goods shall be warehoused in containers or lots in which they were entered for warehousing, and goods warehoused in contravention of the provision of this subsection shall be forfeited.

4 The warehouse keeper shall mark the containers or lots of warehoused goods in such manners as the proper officer in charge may direct, subject to any such further directions, the warehouse keeper shall keep the goods so marked while they are warehoused.

5 A warehouse keeper who fails to comply with the provisions of subsection (4) is liable to a fine of N3,000,000.

6 The Service shall issue regulations governing warehousing procedures.

7 Warehouse keepers shall maintain inventory management systems that are in accordance with the Service’s requirements.

8 Information and communication technology shall be applied to warehousing procedures and record keeping to the extent practicable in international best practice.