The Central Bank of Nigeria, representing the Federal Government, has once again adjusted the exchange rate for cargo clearance, setting it at N1,605/$. This follows a recent increase to N1,515/$, which had earlier risen from N1,472/$. Over the period between January and now, the rate has experienced several fluctuations, starting from N952/$ in December, then reaching N1,356/$, moving to N1,413/$, and subsequently hitting N1,444/$ before the recent adjustment to N1,605/$.
This latest adjustment was confirmed by checking the Nigeria Customs Service portal on Wednesday, where the new rate was duly reflected. The dynamic nature of the exchange rate emphasizes the need for businesses and stakeholders to stay informed and adapt to the evolving economic landscape.
