“Export declined because the illegal export of commodities prevailed,” Mulugeta Beyene, customs compliance division deputy commissioner at the ECC, said. “We directly embarked on a very intensive operation to stop the contraband. The operation includes taking measures against all contraband operators, collaborators, illegal businesses, vehicles, and all related activities. The official stated that officials have also been giving monopoly access for their contraband network operators to exclusively supply commodities, especially under the Franco Valuta scheme. The bank branches there usually legalize contraband money, according to officials of the National Bank of Ethiopia (NBE).

Source: Ethiopian News December 31, 2022 07:57 UTC