The clarification was issued in a statement by the Deputy Comptroller of Customs and National Public Relations Officer, Abdullahi Maiwada, titled, “Nigeria Customs Service clarifies exchange rate application in customs valuation.” According to the NCS, the explanation became necessary in light of recent commentary on foreign exchange pricing, investor behavior, and customs valuation practices.
The Service stressed the importance of accurate public understanding of Nigeria’s trade and revenue environment while cautioning against misinformation.
Maiwada said, “The Nigeria Customs Service acknowledges recent public commentary regarding foreign exchange pricing, investor behavior, and Customs valuation practices. The Service recognizes the value of informed public discourse in deepening understanding of Nigeria’s trade and revenue environment.”
He further elaborated on the mechanisms through which exchange rates are applied within the NCS, explaining that its digital clearance system, B’Odogwu, a Unified Customs Management System, serves as the official platform for all Customs declarations, clearance, and valuation.
“For the avoidance of doubt,” Maiwada said, “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 and consistently applied across all Customs formations nationwide. “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,” Maiwada added.
The NCS highlighted that the B’Odogwu platform operates on structured data integration protocols that automatically ingest and apply exchange rate information transmitted by the apex bank.
“Under no circumstance does the system generate, substitute, or alter exchange rates. Where data transmission formats change, the system is designed to retain the last valid Central Bank-provided rate until the updated feed is successfully processed, thereby preserving continuity, accuracy, and valuation integrity,” he said.
Maiwada also disclosed that the Service is collaborating with the CBN to enable seamless API-based integration, aimed at strengthening real-time exchange rate transmission.
“As part of its ongoing system governance and enhancement processes, the Nigeria Customs Service is collaborating with the Central Bank of Nigeria to enable seamless API-based integration, further strengthening operational reliability, system resilience, and real-time exchange rate transmission,” he added.
Addressing recent reports suggesting that the NCS applied an exchange rate of N1,451.63 to the dollar on February 6, 2026, Maiwada dismissed the claim, stating that the figure did not originate from its system.
“It is worthy of note that the reported exchange rate of N1,451.63 per United States dollar for February 6, 2026, did not originate from the B’Odogwu system. That figure was sourced from trade.gov.ng, a legacy public trade information portal that does not reflect live Customs processing data,” he said.
He further clarified that the National Integrated Customs Information System does not provide real-time Customs valuation figures and is not recognized for live Customs processing.
“The Nigeria Customs Service reiterates to the trading public that the sole authoritative platform for Customs declarations, clearance, and valuation is the B’Odogwu system, which receives exchange rates directly transmitted by the Central Bank of Nigeria,” Maiwada emphasized.
According to the Service, the official exchange rate applied for Customs valuation on February 6, 2026, was N1,365.56 to the dollar, as communicated by the CBN.
“For clarity and transparency, the exchange rate applied for Customs valuation on that date was N1,365.56 per United States dollar, and all subsequent exchange rates have reflected the official rates transmitted by the Central Bank of Nigeria and automatically implemented through the B’Odogwu platform in accordance with established national protocols,” he stated.
The agency assured stakeholders—including importers, exporters, licensed Customs agents, and international partners—that the valuation process remains accurate, predictable, and aligned with statutory provisions and international best practices.
“The Nigeria Customs Service remains firmly committed to transparency, consistency, and the facilitation of legitimate trade, while ensuring strict compliance with national fiscal and monetary policy directives. The Service will continue to strengthen its systems, enhance operational integrity, and support Nigeria’s economic growth through efficient and accountable Customs administration,” Maiwada added.
The clarification comes at a time of heightened sensitivity in Nigeria’s trade and investment environment, where fluctuations in exchange rates directly impact import costs, inflation, and government revenue. Importers and manufacturers have repeatedly expressed concerns over exchange rate volatility and its effects on production costs and consumer prices, highlighting the critical role of Customs valuation in determining import duties.
In recent months, the Federal Government has intensified efforts to digitize Customs processes, improve revenue collection, and reduce leakages through platforms such as B’Odogwu, which replaced older legacy systems. These initiatives align with ongoing monetary and fiscal reforms aimed at stabilizing the naira, enhancing transparency, and strengthening investor confidence in Nigeria’s trade and foreign exchange framework.