The Nigeria Customs Service (NCS) has moved to correct misinformation regarding the exchange rate applied for import and export valuation, insisting that it does not determine, generate, or alter foreign exchange rates used in its clearing processes.
In a press statement issued on Monday, the National Public Relations Officer, Deputy Comptroller Abdullahi Maiwada, clarified that all exchange rates applied within the Service’s digital clearance platform, B’Odogwu, are officially transmitted by the Central Bank of Nigeria (CBN).
“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.
The clarification follows recent public commentary regarding foreign exchange pricing and investor behaviour, which the NCS acknowledged has sparked confusion among stakeholders.
Addressing specific reports that an exchange rate of ₦1,451.63 per US Dollar was applied on 6 February 2026, the Customs Service dismissed the figure as inaccurate. It explained that the erroneous rate originated from trade.gov.ng, a legacy public trade information portal that does not reflect live Customs processing data.
“For clarity and transparency, the exchange rate applied for Customs valuation on 6 February 2026 was ₦1,365.56 per United States Dollar, as officially communicated by the Central Bank of Nigeria,” Maiwada stated.
The NCS further disclosed that it is working with the CBN to enable seamless Application Programming Interface (API)-based integration, which will strengthen real-time exchange rate transmission and enhance the reliability of the B’Odogwu platform.
The Service urged the trading public, licensed customs agents, and international partners to rely solely on the official platform, https://bodogwu.customs.gov.ng, for accurate Customs declarations, clearance, and valuation.
“We assure all stakeholders that Customs clearance and valuation processes remain accurate, predictable, and aligned with statutory provisions and international best practices,” the statement added.
The clarification is expected to ease tensions among importers who had raised concerns over conflicting exchange rate figures affecting clearing costs at the ports.
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