The Central Bank of Nigeria (CBN) has proceeded to slash the exchange rate for computing Customs duties at the nation’s seaports by five point three percent due to the stability in the exchange rate of naira to the dollar.
According to the Nigeria Customs Service, the Customs FX duty rate was reviewed downward from one thousand, six hundred and thirty point one six naira per dollar to one thousand, five hundred and forty-four point zero eight per dollar on Monday.
This signifies a five point three percent reduction in comparison to the old rate of one thousand, six hundred and thirty point one six naira per dollar which was in use as of last Friday, and a decrease of eighty-six point zero eight naira on a dollar needed to clear goods from the port.
Join our twitter community :