The Nigeria Customs Service (NCS) has clarified that it does not determine or manipulate foreign exchange rates used for cargo valuation, stating that all rates applied in its clearance system are officially supplied by the Central Bank of Nigeria (CBN).
In a statement issued on February 16, 2026, and signed by the National Public Relations Officer, Deputy Comptroller of Customs Abdullahi Maiwada, the Service addressed recent public commentary concerning exchange rate discrepancies and Customs valuation practices.
The NCS explained that exchange rates used for import and export valuation are automatically transmitted by the CBN and integrated into its Unified Customs Management System, known as B’Odogwu, which serves as the sole official platform for Customs declarations, clearance and valuation.
“For the avoidance of doubt, the Nigeria Customs Service does not independently determine, generate, alter, or apply margins to foreign exchange rates used for import and export valuation”, the statement said. “All exchange rates applied within the B’Odogwu platform are official rates electronically transmitted by the Central Bank of Nigeria”.
According to the Service, the system operates on structured data integration protocols that automatically ingest and apply exchange rate information received from the apex bank. It stressed that under no circumstance does the platform generate or substitute rates.
The NCS further clarified that in situations where data transmission formats change, the system is designed to retain the last valid CBN-provided rate until updated information is successfully processed, thereby ensuring continuity and accuracy in valuation.
As part of efforts to enhance operational efficiency, the Service disclosed that it is working with the CBN to enable seamless Application Programming Interface (API)-based integration to strengthen real-time exchange rate transmission and system resilience.
The Customs Service also addressed reports citing an exchange rate of ₦1,451.63 per US dollar for February 6, 2026, stating that the figure did not originate from its system. It explained that the rate was sourced from trade.gov.ng, 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 valuation figures and is not recognised for live Customs processing.
The NCS reiterated that the only authoritative platform for Customs declarations and valuation is the B’Odogwu portal, which receives exchange rates directly from the CBN.
Providing specific clarification, the Service stated that the exchange rate applied for Customs valuation on February 6, 2026, was ₦1,365.56 per US dollar, as officially communicated by the CBN.
The agency assured stakeholders, including the trading public, licensed customs agents and international partners, that its valuation processes remain transparent, predictable and fully aligned with national fiscal and monetary policies as well as international best practices.
The statement reaffirmed the Service’s commitment to trade facilitation, operational integrity and support for Nigeria’s economic growth through efficient and accountable Customs administration.