We’re Not To Blame For Increased Exchange Rate – Customs

Nigeria Customs Service has rubished reports in the media blaming it for the increase in exchange rate in the country.

Noting that the rate of exchange used to calculate duty payments is not a static phenomenon, customs reiterated that the Central Bank of Nigeria is the only organisation vested with the authority to determine official rates as applicable for the purpose of calculating duties and other taxes applicable for import and export.

“Members of the trading public are kindly advised to go about their business dealings with the full assurances of the Service’s commitment to trade facilitation,” Vustoms said.

This was contained in a statement signed by DC Timi Bomodi, National Public Relations Officer, for Comptroller General of Custom.