The Nigeria Customs has clarified the exchange rate application in customs validation.
In a statement by the National Public Relations Officer of Customs, Abdullahi Maiwada, the Service said it does not independently determine, generate, alter, or apply margins to foreign exchange rates used for import and export valuation.
Maiwada said 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.
According to him, the 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.
He added that the B’Odogwu system operates on structured data integration protocols that automatically ingest and apply exchange rate information as transmitted by the Central Bank of Nigeria.
The Customs mouthpiece noted that under no circumstances 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 added that as part of the ongoing system governance and enhancement processes, the Nigeria Customs is working with the Central Bank of Nigeria to enable seamless Application Programming Interface, API-based integration, further strengthening real-time exchange rate transmission, operational reliability, and system resilience.
“It is worthy of note that the reported exchange rate of N1,451.63/US$ for 6 February 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.
“Likewise, the National Integrated Customs Information System (NICIS) does not provide real-time Customs valuation figures and is not recognised 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 bodogwu.customs.gov.ng, which receives exchange rates directly transmitted by the Central Bank of Nigeria.
“For clarity and transparency, the exchange rate applied for Customs valuation on 6 February 2026 was N1,365.56 per United States Dollar, as officially communicated by the Central Bank of Nigeria. All subsequent exchange rates applied by the Service have likewise 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,” the statement partly read.
It reaffirmed the Service’s commitment to transparency, consistency, and the facilitation of legitimate trade, while ensuring strict compliance with national fiscal and monetary policy directives.
The service also assured all 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.
Eze Chidiebere Paul
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