The Nigeria Customs Service has clarified that it does not set cargo clearance rates, stating that the Central Bank of Nigeria is solely responsible for determining exchange rates applied in import and export valuation.
The clarification was contained in a statement published on the Service’s official Facebook page on Monday.
The NCS explained that all foreign exchange rates are transmitted by the CBN and automatically applied within its digital clearance platform, B’Odogwu, to ensure transparency and compliance with national monetary policy.
“For the avoidance of doubt, the Nigeria Customs Service does not independently determine, generate, alter, or apply margins to foreign exchange rates used for import and export valuation,” the statement read.
The Service highlighted that these rates are automatically integrated into B’Odogwu and uniformly applied across all Customs formations to maintain audit integrity and predictability in cargo processing.
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The clarification follows public concern over reports that an exchange rate of N1,451.63 per dollar was applied for Customs valuation on February 6, 2026.
The NCS stated that the reported figure did not originate from B’Odogwu but from trade.gov.ng, a legacy trade information portal that does not reflect live Customs processing.
The official exchange rate applied on February 6, 2026, was N1,365.56 per dollar, as communicated by the CBN, according to the Service.
The NCS began piloting the B’Odogwu digital platform at the Port and Terminal Multiservices Limited Area Command in October 2024 to modernize customs operations.
Following the pilot, the platform has been expanded to Apapa and Tincan Island ports to improve efficiency in cargo processing.
The initiative aims to ensure seamless application of official CBN exchange rates across all customs operations nationwide.
