The Nigeria Customs Service (NCS) has clarified recent concerns over foreign exchange rates applied in Customs valuation, emphasized that all rates are sourced directly from the Central Bank of Nigeria (CBN) and automatically integrated into its digital clearance system, B’Odogwu.
In a statement issued by the NCS National Public Relations Officer, Dr. Abdullahi Maiwada, the Service explained that it does not independently determine, alter, or apply margins to exchange rates. Instead, the B’Odogwu platform, which is the sole official system for Customs declarations, clearance, and valuation, receives real-time exchange rate data from the CBN to ensure transparency, consistency, and compliance with national fiscal and monetary policy directives.
The clarification was coming in response to reports suggesting that an exchange rate of ₦1,451.63 per US dollar was used on February 6, 2026. The NCS confirmed that this figure did not originate from its systems but was instead sourced from trade.gov.ng, a public trade information portal that does not reflect live Customs processing data. The official rate applied for Customs valuation on that date was ₦1,365.56 per US dollar, as transmitted by the CBN.
The NCS further reassured the public that all subsequent exchange rates continue to reflect official CBN rates, automatically implemented through B’Odogwu. The Service highlighted ongoing efforts to strengthen system governance, including plans for API-based integration with the CBN to enhance real-time data transmission and operational reliability.
Dr. Maiwada reiterated the NCS commitment to transparency, consistency, and facilitating legitimate trade, affirmed that Customs valuation and clearance processes remain accurate, predictable, and aligned with statutory provisions and international best practices.
The Nigeria Customs Service urged all traders, licensed agents, and international partners to rely solely on the B’Odogwu platform for official Customs declarations and exchange rate information: https://bodogwu.customs.gov.ng
