Nigeria Customs Clarifies FX Rate Application on B’Odogwu Platform
The Nigeria Customs Service (NCS) has issued a formal clarification addressing recent public commentary surrounding foreign exchange pricing, investor behaviour, and Customs valuation practices.
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In a statement released on February 16, 2026, the Service explained that all exchange rates applied within its Unified Customs Management System, known as B’Odogwu, are officially transmitted by the (CBN). The NCS emphasized that it does not independently determine, generate, adjust, or apply margins to foreign exchange rates used for import and export valuation.
According to the Service, the B’Odogwu platform serves as the sole official system for Customs declarations, clearance, and valuation. Exchange rates received from the Central Bank are automatically integrated and uniformly applied across all Customs formations to ensure transparency, predictability, audit integrity, and compliance with national fiscal and monetary policies.
The statement further clarified that the system operates on structured data integration protocols and does not generate or substitute exchange rates. In cases where data transmission formats change, the platform retains the last valid rate provided by the Central Bank until updated information is successfully processed, thereby maintaining valuation accuracy.
The Central Bank of Nigeria (NCS) also addressed reports referencing an exchange rate of ₦1,451.63 per US dollar for February 6, 2026, stating that the figure did not originate from the B’Odogwu system. It explained that the rate was sourced from trade.gov.ng, described as a legacy public trade information portal that does not reflect live Customs processing data. The Service reiterated that the authoritative platform for real-time Customs valuation remains https://bodogwu.customs.gov.ng, which directly receives official exchange rates from the Central Bank.
For clarity, the Service disclosed that the exchange rate applied for Customs valuation on February 6, 2026, was ₦1,365.56 per US dollar, as officially communicated by the Central Bank of Nigeria. Subsequent rates, it added, have consistently reflected official transmissions from the apex bank.
Reaffirming its commitment to transparency and trade facilitation, the Nigeria Customs Service assured stakeholders—including the trading public, licensed Customs agents, and international partners—that its clearance and valuation processes remain accurate, predictable, and aligned with statutory provisions and international best practices.
The statement was signed by Abdullahi Maiwada, Deputy Comptroller of Customs and National Public Relations Officer, for the Comptroller-General of Customs.
Nigeria Customs Clarifies FX Rate Application on B’Odogwu Platform