The Nigeria Customs Service (NCS) has clarified that it does not determine or manipulate foreign exchange rates used in customs valuation, stating that all rates applied in its clearance system are officially transmitted by the Central Bank of Nigeria (CBN).
In a statement issued on February 16, 2026, and signed by the National Public Relations Officer, Abdullahi Maiwada, on behalf of the Comptroller-General of Customs, the Service addressed recent public commentary concerning foreign exchange pricing, investor behaviour and customs valuation practices.
The NCS explained that exchange rates used for import and export valuation are automatically integrated into its digital clearance platform, B’Odogwu, a Unified Customs Management System that serves as the sole official portal for customs declarations, clearance and valuation.
According to the Service, it does not independently determine, generate, alter or apply margins to foreign exchange rates. Rather, the rates are electronically transmitted by the CBN, which remains the statutory authority responsible for exchange rate determination under Nigeria’s monetary framework.
“These rates are automatically integrated and uniformly applied across all Customs formations, ensuring transparency, predictability, audit integrity and full compliance with statutory provisions and national fiscal and monetary policy directives,” the statement said.
The NCS further explained that the B’Odogwu platform operates structured data integration protocols that automatically ingest exchange rate information from the CBN. It added that the system cannot generate, substitute or alter exchange rates under any circumstance.
Where there is a change in data transmission format, the system is designed to retain the last valid rate provided by the CBN until an updated feed is successfully processed, thereby ensuring continuity and valuation integrity.
As part of efforts to strengthen operational efficiency, the Service disclosed that it is working with the Central Bank to enable seamless Application Programming Interface (API)-based integration to enhance real-time exchange rate transmission and system resilience.
The NCS also clarified reports referencing an exchange rate of ₦1,451.63 per dollar for February 6, 2026, stating that the figure did not originate from the B’Odogwu system.
It explained that the rate was sourced from trade.gov.ng, described as a legacy public trade information portal that does not reflect live Customs processing data.
Similarly, the Service noted that the National Integrated Customs Information System (NICIS) does not provide real-time customs valuation figures and is not recognised for live customs processing.
For clarity, the NCS stated that 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.
It added that all subsequent rates applied by the Service have reflected official CBN transmissions and were automatically implemented through the B’Odogwu platform in line with national protocols.
The Service reaffirmed its commitment to transparency, consistency and trade facilitation, assuring stakeholders, including the trading public, licensed customs agents and international partners, that customs clearance and valuation processes remain accurate, predictable and aligned with statutory provisions and international best practices.
The NCS pledged to continue strengthening its systems and enhancing operational integrity in support of Nigeria’s economic growth.
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