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No Increase in Custom Exchange Rate Service, Says NCS
AJAGBE ADEYEMI TESLIM
Sponsored by: H&H
The attention of the Nigeria Customs Service has been drawn to reports by some sections of the media attributing the increase in 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 organisation vested with the authority to determine official rates as applicable for the purpose of calculating duties and other taxes applicable for import and export.
Members of the trading public are kindly advised to go about their business dealings with the full assurances of the Service’s commitment to trade facilitation.
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