The Nigeria Customs Service (NCS) has issued a statement clarifying its role in determining foreign exchange rates used for import and export valuation, asserting that it does not manipulate these rates. This response comes in the wake of public discussions regarding foreign exchange pricing and customs valuation, which have raised concerns among stakeholders. The Deputy Comptroller of Customs and National Public Relations Officer, Abdullahi Maiwada, emphasized that the rates used on the NCS's digital clearance platform are officially provided by the Central Bank of Nigeria, thereby distancing the agency from any responsibility for forex rate fluctuations.

The NCS's clarification aims to address misinformation that could distort public understanding of Nigeria’s trade and revenue environment. Maiwada underscored the necessity for accurate information amidst ongoing debates on forex rates, which play a crucial role in investor behavior and market dynamics. The Customs Service recognizes the importance of fostering informed public discourse and is committed to providing clear guidance on customs valuation practices to avoid confusion among stakeholders.

This situation highlights the broader challenges within Nigeria's economic landscape, where foreign exchange rates significantly impact trade operations and profitability for importers and exporters alike. By clarifying its position, the NCS aims to stabilize investor confidence and ensure transparency in the customs process, reinforcing the need for reliable communication between government entities and the public.