NCS increases FX rate for import duties to N1,373/$

The Nigeria Customs Service (NCS) has adjusted the foreign exchange (FX) rate for import duties to N1,373.64 per dollar.

This represents a 19.4 per cent increase compared to N1,150.1/$ displayed on April 24, which was the last time the rate was adjusted.

The new rate, which was displayed on Wednesday, is below the official foreign exchange rate, which closed at N1,390/$ on Tuesday.