The Nigeria Customs Service has clarified how exchange rates are applied in Customs valuation nationwide.
The Service said it does not determine or adjust foreign exchange rates for import or export assessment.
All exchange rates used for valuation are officially transmitted by the Central Bank of Nigeria.
Customs explained that rates are applied automatically through its digital platform known as the B’Odogwu system.
The B’Odogwu platform is the sole authorised system for Customs declarations, clearance and valuation across all formations.
Read Also: Customs, Army Strengthen Security Collaboration in North East
The Service stressed that it does not generate or alter exchange rates within the system.
Where transmission delays occur, the platform retains the last valid rate provided by the Central Bank.
Customs said it is working with the Central Bank to enable real-time API-based exchange rate integration.
It clarified that the reported rate of ₦1,451.63 on February 6 did not originate from B’Odogwu.
The figure was sourced from trade.gov.ng, which is not used for live Customs processing.
The Service also noted that the NICIS platform does not provide real-time valuation data.
Customs said the official exchange rate applied on February 6 was ₦1,365.56 per dollar.
It added that all subsequent rates applied reflected official Central Bank transmissions.
The Service reaffirmed its commitment to transparency and predictable valuation procedures.
Customs assured traders and partners that processes comply with fiscal and monetary policy directives.
It pledged to continue strengthening digital systems and facilitating legitimate trade.
