Nigeria’s Customs Service has rejected suggestions that it independently sets or adjusts foreign exchange rates used in the valuation of imports and exports, insisting that the figures applied in its digital clearance system are supplied directly by the Central Bank of Nigeria (CBN).
In a statement issued on Sunday, the Nigeria Customs Service (NCS) said it had taken note of growing public commentary linking foreign exchange pricing, investor behaviour and customs valuation practices, but maintained that it had no authority to generate or alter the exchange rates used in clearing goods.
“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 said, adding that the CBN remained “the competent authority for exchange rate determination under Nigeria’s monetary framework”.
Customs said the rates were electronically transmitted and automatically integrated into B’Odogwu – its Unified Customs Management System – which it described as the “sole official platform for Customs declarations, clearance, and valuation”.
According to the NCS, the system applies the same official rate across all customs formations nationwide, a process it said was designed to ensure transparency, predictability and audit integrity.
The service also explained that where technical issues arise, including changes in data transmission formats, the platform is designed to retain the last valid CBN-provided exchange rate until a new feed is successfully processed.
It added that it was working with the CBN to enable full Application Programming Interface (API) integration, which would allow for more seamless real-time exchange rate transmission.
Customs further dismissed claims that an exchange rate of ₦1,451.63 per US dollar applied on 6 February 2026 originated from its system. It said the figure was taken from trade.gov.ng, describing it as a “legacy public trade information portal” that does not reflect live customs processing data.
The NCS also said the National Integrated Customs Information System (NICIS), an older platform, does not provide real-time valuation data and should not be relied upon for live customs processing figures.
For clarity, Customs stated that the exchange rate actually applied on 6 February 2026 was ₦1,365.56 per US dollar, as officially communicated by the Central Bank.
The service urged importers, licensed customs agents and other stakeholders to rely on the B’Odogwu platform as the authoritative source for customs valuation processes, saying it remained committed to consistent and transparent trade facilitation.
The statement was signed by Abdullahi Maiwada, deputy comptroller of customs and national public relations officer, on behalf of the comptroller-general of customs.
