Again, CBN Increases Customs Exchange Rate To Clear Imported Goods [Video]

• The CBN has again made adjustments in the Customs duty rate for clearing goods at the port and also airport
• The new rates reflect the continued depreciation of the naira in both the official and unofficial markets
• Experts continue to ask the Nigerian government to peg the Customs exchange rate at N1,000/$ to bring down inflation

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Central Bank of Nigeria (CBN) has decided to increase the Nigeria Customs duty exchange rate to clear goods at ports to N1,655.92 a dollar on Wednesday, October 23.

The new rate represents a 0.97% increase from the previous rate of N1,639.928 per dollar on Monday, October 21, 2024

Customs duty, also known as import duty, refers to the taxesand levies paid …