The Nigeria Customs Service (NCS) has reduced the exchange rate for import duties collection from N1238.1/$ to N1,147/$.
This represents a decline of N91.1 since the last reduction on April 10th.
The NCS, through the Central Bank of Nigeria (CBN), has been fixing the exchange rate to reflect the official market rate on the NAFEM window, resulting in regular rate changes.
Since the last change on April 10, this is the next time the rate will be changed, making it the longest the rate has stayed same in the past few months.
