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No increase in imported exchange rate, say Customs

By Ernest Nzor, Abuja
15 September 2022   |   8:00 am
The Nigeria Customs Service (NCS), on Wednesday, debunked claims that it has increased imported exchange rate as reported against customs by some media but not The Guardian.

Nigeria Customs Service (NCS)

The Nigeria Customs Service (NCS), on Wednesday, debunked claims that it has increased imported exchange rate as reported against customs by some media but not The Guardian.

Deputy Comptroller of Customs and the National Public Relations Officer of the service, Timi Bomodi, made this known in a statement signed on behalf of the Comptroller General of Customs in Abuja.

He said: “The attention of the Nigeria Customs Service has been drawn to reports by some sections of the media attributing the increase in the exchange rate in our system to the Nigeria Customs Service.

“Noting that the rate of exchange used to calculate duty payments is not a static phenomenon, we wish to reiterate that the Central Bank of Nigeria is the only organization vested with the authority to determine official rates as applicable for the purpose of calculating duties and other taxes applicable for import and export”.

He also advised the general public to go about their business dealings with the full assurances of service’s commitment to trade facilitation.