The Nigeria Customs Service has clarified that its Unified Customs Management System, B’Odogwu, does not generate, substitute, or alter exchange rates used for cargo clearance under any circumstance.
In a statement issued on Monday, National Public Relations Officer Abdullahi Maiwada explained that all exchange rates applied within the digital clearance platform are officially transmitted by the Central Bank of Nigeria, the sole authority responsible for exchange rate determination under Nigeria’s monetary framework.
The Service said the clarification became necessary following public commentary on foreign exchange pricing, investor behaviour, and customs valuation practices.
“For the avoidance of doubt, the NCS does not independently determine, generate, alter, or apply margins to foreign exchange rates used for import and export valuation,” Maiwada stated.
According to him, B’Odogwu operates as the only authorised platform for customs declarations, clearance, and valuation. The system automatically integrates exchange rates electronically transmitted by the Central Bank and applies them uniformly across all customs formations.
Maiwada explained that the platform functions using structured data integration protocols designed to ensure transparency, predictability, audit integrity, and full compliance with statutory provisions and national fiscal and monetary policy directives.
“The B’Odogwu system operates on structured data integration protocols that automatically ingest and apply exchange rate information as transmitted by the Central Bank of Nigeria. Under no circumstances does the system generate, substitute, or alter exchange rates,” he said.
He further noted that where there is a change in data transmission format, the system is programmed to retain the last valid CBN-provided rate until the updated feed is successfully processed, thereby preserving continuity, accuracy, and valuation integrity.
As part of ongoing system enhancements, the Service disclosed that it is working with the Central Bank to implement seamless application programming interface-based integration to strengthen real-time exchange rate transmission and operational resilience.
Maiwada also addressed reports referencing an exchange rate of N1,451.63/US$ for February 6, 2026, stating that the figure did not originate from B’Odogwu. He said the rate was sourced from a legacy public trade information portal that does not reflect live customs processing data.
“For clarity and transparency, the exchange rate applied for Customs valuation on 6 February 2026 was N1,365.56/US$, as officially communicated by the CBN,” he added.
The Customs spokesperson emphasised that all subsequent exchange rates applied by the Service have consistently reflected official rates transmitted by the Central Bank and automatically implemented through the B’Odogwu platform.
Reaffirming its commitment to transparency and trade facilitation, the Service assured stakeholders — including the trading public, licensed customs agents, and international partners — that customs clearance and valuation processes remain accurate, predictable, and aligned with statutory provisions and international best practices.
“The Service will continue to strengthen its systems, enhance operational integrity, and support Nigeria’s economic growth through efficient and accountable Customs administration,” Maiwada said.
