Abuja: The Nigeria Customs Service (NCS) has firmly rejected allegations that it manipulates foreign exchange rates in the valuation of imports and exports, stressing that only the Central Bank of Nigeria (CBN) has the statutory authority to determine applicable FX rates.
The service says it neither determines, generates, nor alters exchange rates applied in customs processing across the country.
Abdullahi Maiwada, the spokesperson, said in Abuja on Monday that the B’Odogwu digital platform only used rates officially provided by the Central Bank of Nigeria (CBN).
He stressed that the apex bank remained the sole statutory authority responsible for determining exchange rates under Nigeria’s monetary and fiscal framework.
CBN rates are transmitted electronically and integrated automatically, without human involvement.
“They are used across all customs offices. This ensures transparency, predictability, audit integrity and compliance with national policies,” Maiwada said.
This statement responds to recent public concerns about foreign exchange pricing and customs valuation.
Maiwada said the reported N1,451.63 per dollar on February 6 did not come from B’Odogwu.
He explained that the figure was from trade.gov.ng. This is a legacy trade portal not used for current customs processing.
He also clarified that the National Integrated Customs Information System does not give real-time valuation data for clearance.
It is not a live platform for customs processing and should not be used for current values, he said.
According to him, the only official portal for customs declarations and valuation is https://bodogwu.customs.gov.ng.
He said the platform receives exchange rates directly from the Central Bank and applies them automatically nationwide.
For transparency, the exchange rate applied on 6 February 2026 was N1,365.56 per dollar.
“The CBN communicated that rate officially, and it was used in all customs offices,” he said.
He explained that the B’Odogwu system uses strict data protocols that prevent manual interference.
The system never generates, substitutes, or alters exchange rates, Maiwada said.
He noted that when data transmission formats change, the platform retains the last valid Central Bank rate until updated feeds are processed.
He said this safeguard ensures continuity, accuracy, and reliable valuation in customs operations.
Maiwada said the service is working with the Central Bank to create a seamless API integration.
He said the upgrade will improve real-time rate transmission, reliability, and system resilience.
He assured the trading public, licensed customs agents, and international partners that customs processes will remain accurate.
The NCS is committed to transparency, consistency, and supporting legitimate trade, he said.
He added that the service will continue to improve its systems and support economic growth through responsible customs administration.
