The Nigerian Customs Service (NCS) has increased the exchange rate for the clearance of goods from N951.94/$ to N1356.88/$.
The percentage price difference is 42.7 per cent.
The change was made on the federal government’s single-window trade portal used by the NCS. From the N951.94 to a dollar that it previously was, it was increased to N1356.88.
In December, the NCS increased the exchange rate for cargo clearance by 22.8 per cent, from N783/$ to N952/$.
Controller general of NCS, Kayode Adeniyi, had in a recent interview, stated that the service does not fix exchange rates but uses the official market (NAFEM) rate.
However, the current rate of N1356.8/$ falls below the exchange rate on the NAFEM window which closed at N1,461.90/$ on Thursday
