CBN Sets New Customs Exchange Rate To Clear Goods at Ports [Video]

• The CBN has once again announced new customs duty rates for importers to clear goods at the nation’s ports
• The latest rates reflect the current naira to the dollar exchange rate in the official and unofficial markets
• Nigerians are still hoping that the prices of goods in the market will reflect the current naira-to-dollar rate

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 set a new exchange rate to calculate customs import duties at the nation’s ports.

Customs duties are taxes and levies paid on goods imported into the country.

The duties are paid through a commercial bank to the Nigeria Customs Service, which receives on behalf of the federal government.

Customs new exchange rate

According to data from the federal government trading portal…