The Nigeria Customs Service has clarified that it does not set cargo clearance rates, saying the Central Bank of Nigeria is solely responsible for determining rates applied in import and export valuation.
This 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.
What they are saying
The NCS stressed that it does not independently generate or adjust foreign exchange rates used for customs valuation. All rates applied on its platform are official CBN rates.
- “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.”
- “All exchange rates applied within the B’Odogwu platform are official rates electronically transmitted by the Central Bank of Nigeria, which remains the competent authority for exchange rate determination under Nigeria’s monetary framework,” the statement read in part.
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.
Backstory
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 Service noted that its National Integrated Customs Information System (NICIS) does not provide real-time valuation figures.
The statement noted that the official exchange rate applied on February 6, 2026, was N1,365.56 per dollar, as communicated by the CBN. All subsequent rates applied by NCS have similarly reflected official CBN rates through the B’Odogwu platform.
What you should know
The NCS began piloting the B’Odogwu digital platform at the Port and Terminal Multiservices Limited (PTML) Area Command to modernize customs operations and enhance trade facilitation.
- The pilot phase at PTML commenced on October 25, 2024.
- B’Odogwu is an indigenous digital system for trade facilitation and cargo processing.
Following the pilot, the platform has been expanded to Apapa and Tincan Island ports.
The initiative aims to improve efficiency in cargo processing and ensure seamless application of official CBN exchange rates across all customs operations.
