The Presidential Committee on Fiscal Policy and Tax Reforms has recommended an exchange rate of N800 per dollar Customs import duty rate for the rest of the year. This move will be a huge departure from what is obtained currently where Customs duty is changed erratically, sometimes twice a day with total changes effected so far this year at about …

The Central Bank of Nigeria (CBN) has raised the exchange rate for calculating Customs duties at the nation’s seaports by 1.9 per cent following further depreciation in the value of the Naira to the dollar. The Customs exchange duty rate was raised from N1, 593.888/$ to N1, 624.732/$ on Tuesday, information obtained from the official trade portal of the Nigeria …

The Area Comptroller of the Tin-Can Island command of the Nigeria Customs Service (NCS), Comptroller Dera Nnadi has assured importers’ and clearing agents operating in his area of jurisdiction that his team would optimise service delivery and facilitate trade in order to cushion recent hike in foreign exchange. The assurance came against the background of Thursday’s upward adjustment of the …