Confusion rocks seaports as Customs implement new CBN exchange rate

Posted by Tola Adenubi, Lagos | 11 June 2019 | 1,439 times

There was palpable confusion at the Lagos Ports on Monday as the Nigerian Customs Service (NCS) began the implementation of the new Central Bank of Nigeria (CBN) exchange rate of N326 per Dollar for Customs transactions, which hitherto stood at N306 per Dollar.

Findings by the Tribune Online on Monday showed that the NCS has already commenced implementation of the new exchange rate with immediate effect. Customs sources confirmed that the valuation department of Customs at all commands has equally adjusted the exchange rate on their electronic systems.

Speaking with newsmen, Public Relations Officer of the Association of Nigeria Licensed Customs Agents (ANLCA) at Tin Can Island Port, Mr. Emmanuel Onyeme also confirmed that all transactions and cargoes that were cleared at the port today (Monday) were already paying N326 per dollar. (Nigerian Tribune)

Source: News Express