The Nigeria Customs Service (NCS) has issued a statement regarding its Unified Customs Management System, known as the B’Odogwu platform, asserting that it neither generates nor substitutes exchange rates for cargo clearance processes. Abdullahi Maiwada, the National Public Relations Officer of the NCS, emphasized that the system is designed to maintain the last valid exchange rate provided by the Central Bank, ensuring continuity and accuracy in cargo assessments, particularly when there are changes in data transmission formats.

Maiwada's clarification came in response to recent public discussions and concerns about foreign exchange rates, investor actions, and customs valuation practices. By addressing these issues, the NCS aims to enhance public understanding of the complexities surrounding trade and revenue management in Nigeria. The Service values informed public discourse as a means to improve transparency and build trust in Nigeria’s customs operations.

The implications of this clarification are significant for stakeholders in Nigeria’s trade sector, including importers and exporters who rely on accurate currency valuations. By ensuring that the B’Odogwu platform does not arbitrarily alter exchange rates, the NCS seeks to reinforce the integrity of cargo clearance processes and to foster a more stable and reliable trading environment that is responsive to both legal and market conditions.