The Central Bank of Nigeria, on behalf of the Federal Government, has adjusted the exchange rate for cargo clearance from N952/$ to N1.356 per dollar. This change follows a recent increase from N783/$ to N952/$, and previously from N757 to N783 in November.
The updated rate, now reflected on the Nigeria Customs Service portal, has raised concerns among members of the Association of Nigerian Licensed Customs Agents. Remilekun Sikiru expressed dismay over the sudden rise, predicting potential repercussions such as increased prices of goods, reduced importation, and a surge in vehicle prices.
Another agent, Ben Anya, highlighted the unexpected shift from the previous rate of N951 per dollar.
