Customs Duty Rises to N1,457 per Dollar

The exchange rate for import duties collection by the Nigerian Customs Service (NCS) has risen to N1457/$, the highest in just over six weeks, according to checks on the exchange rate portal of the NCS.

According to data on the portal, the current customs exchange rate is the highest since the 22nd of March 2024 when the figure stood at N1572.5/$.

There has been a gradual appreciation of the naira after that, occasioned by policies of the Central Bank of Nigeria (CBN) which saw the NCS’ exchange rate fall to a three-month low of N1147/$.