By Nkechi Eze
The Nigeria Customs Service (NCS) has clarified widespread public concerns over foreign exchange application in Customs valuation, firmly stating that it does not determine or manipulate exchange rates used in cargo clearance, but relies solely on official rates provided by the Central Bank of Nigeria (CBN).
In an official statement signed by the National Public Relations Officer, Deputy Comptroller of Customs Abdullahi Maiwada, the Service said the clarification became necessary following recent public commentary on foreign exchange pricing, investor behaviour, and Customs valuation processes.
Maiwada explained that the NCS recognises the importance of informed public discourse in strengthening understanding of Nigeria’s trade and revenue environment, but stressed the need to present accurate facts on how exchange rates are received and applied within its digital clearance platform, B’Odogwu, a Unified Customs Management System.
According to him, “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.”
He noted that the rates are automatically integrated into the system and uniformly applied across all Customs formations nationwide, ensuring transparency, predictability, audit integrity, and full compliance with statutory provisions and national fiscal and monetary policy directives.
The Customs spokesperson further explained that the B’Odogwu platform operates using structured data integration protocols that automatically ingest exchange rate information directly from the Central Bank, emphasising that under no circumstance does the system generate, substitute, or alter exchange rates.
He added that in situations where there are temporary changes in data transmission formats, the system is programmed to retain the last valid exchange rate provided by the Central Bank until updated information is successfully processed, thereby preserving continuity, accuracy, and valuation integrity.
“As part of ongoing system governance and enhancement, the Nigeria Customs Service is working with the Central Bank of Nigeria to enable seamless Application Programming Interface (API)-based integration. This will further strengthen real-time exchange rate transmission, operational reliability, and system resilience,” Maiwada said.
The Service also clarified reports suggesting that an exchange rate of ₦1,451.63 to one United States Dollar was applied on February 6, 2026, stating that the figure did not originate from its system.
According to the statement, the rate was sourced from trade.gov.ng, a legacy public trade information portal which does not reflect live Customs processing data. It also noted that the National Integrated Customs Information System does not provide real-time valuation figures and is not recognised as an official platform for live Customs processing.
The NCS emphasised that its B’Odogwu platform remains the sole authoritative system for Customs declarations, clearance, and valuation, as it receives exchange rate data directly from the Central Bank of Nigeria.
“For clarity and transparency, the exchange rate applied for Customs valuation on February 6, 2026, was ₦1,365.56 per United States Dollar, as officially communicated by the Central Bank of Nigeria,” Maiwada stated.
He added that all subsequent exchange rates applied by the Service have continued to reflect official rates transmitted by the apex bank and automatically implemented through the B’Odogwu system in line with established national protocols.
Reaffirming its commitment to transparency and trade facilitation, the Service assured stakeholders, including importers, licensed customs agents, and international partners, that its clearance and valuation processes remain accurate, predictable, and fully aligned with statutory provisions and global best practices.
The Service added that it will continue to strengthen its systems, enhance operational integrity, and support Nigeria’s economic growth through efficient, transparent, and accountable Customs administration.
