Customs Data Show Uniform FX Application as NCS Rebuts Valuation Discrepancies

By Victor Idajili

By focusing on figures and systems performance, the Nigeria Customs Service (NCS) on Monday provided statistical clarity on how foreign exchange (FX) rates are applied in customs valuation, countering claims of multiple or inflated rates in cargo clearance.

According to the NCS, 100 per cent of customs declarations and valuations are processed on a single digital platform—B’Odogwu, its Unified Customs Management System. The Service stressed that the platform does not generate or adjust exchange rates, but automatically applies official FX rates transmitted electronically by the Central Bank of Nigeria (CBN) across all customs formations nationwide.

Providing a data point to correct public narratives, the NCS said the exchange rate applied on 6 February 2026 was ₦1,365.56 per US dollar, exactly as communicated by the CBN. This contrasts with a ₦1,451.63/US$ figure circulated publicly for the same date, which the Service said did not originate from B’Odogwu.

Instead, the disputed number was traced to trade.gov.ng, described as a legacy portal that does not reflect live customs processing data. The Service also clarified that the National Integrated Customs Information System (NICIS) is not a real-time valuation platform and should not be cited for current customs exchange rates.
Explaining system safeguards with measurable outcomes, the NCS said B’Odogwu operates on automated data-integration protocols that ingest CBN rates uniformly. Where transmission formats change, the system retains the last valid CBN rate until a new feed is successfully 

processed, ensuring continuity and valuation integrity rather than gaps or manual intervention.
Speaking on behalf of the Comptroller-General, the NCS National Public Relations Officer, Abdullahi Maiwada, disclosed that the Service is working with the CBN to deploy API-based integration. This upgrade is expected to strengthen real-time FX transmission, improve system resilience, and further reduce latency in valuation data.

With all customs valuation routed through a single platform and FX rates sourced exclusively from the CBN, the NCS said its processes deliver uniform application nationwide, reinforcing transparency, predictability, and audit integrity. 

The Service reaffirmed its commitment to facilitating legitimate trade while maintaining strict compliance with Nigeria’s fiscal and monetary policy framework.