The Nigeria Customs Service (NCS) has pushed back against allegations that it was applying inflated exchange rates when calculating import duties, insisting that all foreign exchange figures used in its clearance system are transmitted directly and unaltered by the Central Bank of Nigeria.
The NCS, in a statement on Monday, argued that the contested exchange rate of N1,451.63 per dollar, which had been widely cited in trader complaints, did not originate from B’Odogwu, the official digital system through which all customs declarations, clearance, and valuation are processed.
“That figure was sourced from trade.gov.ng, a legacy public trade information portal that does not reflect live Customs processing data,” the Service said, adding that the rate actually applied for customs valuation on February 6, 2026 was N1,365.56 per dollar, a difference of approximately N86 per dollar from the figure in circulation.
Import duties in Nigeria are calculated as a percentage of the customs value of goods, a value denominated in naira using the prevailing exchange rate.
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A rate inflated by N86 per dollar means that on every $100,000 shipment, an importer could be assessed duties on a naira base that is N8.6 million higher than it should be, potentially translating into millions of naira in excess duty charges.
The Customs Service maintained that it has no mechanism, and no authority, to alter the rates it receives.
“The Nigeria Customs Service does not independently determine, generate, alter, or apply margins to foreign exchange rates,” it said.
“All exchange rates applied within the B’Odogwu platform are official rates electronically transmitted by the Central Bank of Nigeria.”
The Service also distanced itself from the outdated National Integrated Customs Information System (NICIS), clarifying that it “does not provide real-time Customs valuation figures and is not recognised for live Customs processing.”
Traders and customs agents, the Service urged, should rely solely on the newer B’Odogwu as the authoritative source.
