Nigeria Customs clarifies Forex rate application via B’Odogwu platform

*Abdullahi Maiwada, PhD, Deputy Comptroller and National Public Relations Officer at Nigeria Customs, clarifies that B’Odogwu, a Unified Customs Management System, remains ‘the sole official platform for Customs declarations, clearance, and valuation’, and NCS does not independently determine, generate, alter, or apply margins to Forex rates for import and export valuation

Isola Moses | ConsumerConnect

The Nigeria Customs Service (NCS) has acknowledged recent public commentary regarding Foreign Exchange (Forex) pricing, investor behaviour, and Customs valuation practices in the economy.

The NCS said it recognised the value of informed public discourse in deepening understanding of the country’s trade and revenue environment.

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The emphasised the need to provide factual clarification on how exchange rates are received, processed, and applied within the NCS digital clearance system.

Abdullahi Maiwada, PhD, Deputy Comptroller and National Public Relations Officer (PRO) at Nigeria Customs, in a statement Monday, February 16, 2026, also clarified that B’Odogwu, a Unified Customs Management System, serves as the sole official platform for Customs declarations, clearance, and valuation.

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Nigeria Customs Clarifies Forex Rate Application Via B’Odogwu Platform

Maiwada stated that for the avoidance of doubt, the Nigeria Customs Service does not independently determine, generate, alter, or apply margins to Foreign Exchange rates used for import and export valuation.

He said all exchange rates applied within the B’Odogwu platform are official rates electronically transmitted by the Central Bank of Nigeria (CBN), which remains the competent authority for exchange rate determination under Nigeria’s monetary framework.

Maiwada further explained the rates are automatically integrated, and uniformly applied across all Customs formations, to ensure transparency, predictability, audit integrity, and full compliance with statutory provisions and national fiscal and monetary policy directives.

The Deputy Comptroller and National Public Relations Officer of NCS noted: “The B’Odogwu system operates on structured data integration protocols that automatically ingest and apply exchange rate information as transmitted by the Central Bank of Nigeria.

“Under no circumstances does the system generate, substitute, or alter exchange rates.”

The Service as well said where data transmission formats change, the system is designed to retain the last valid Central Bank-provided rate until the updated feed is successfully processed, thereby preserving continuity, accuracy, and valuation integrity.

The National Public Relations Officer stated that as part of the Service’s ongoing system governance and enhancement processes, the Nigeria Customs Service is working with the Central Bank of Nigeria to enable seamless Application Programming Interface (API)-based integration, further strengthening real-time exchange rate transmission, operational reliability, and system resilience.

He said: “It is worthy of note that the reported exchange rate of ₦1,451.63/US$ for 6 February 2026 did not originate from the B’Odogwu system.

“That figure was sourced from http://trade.gov.ng, a legacy public trade information portal that does not reflect live Customs processing data.”

Maiwada noted likewise, the National Integrated Customs Information System (NICIS) does not provide real-time Customs valuation figures and is not recognised for live Customs processing.

The Nigeria Customs Service, therefore, reiterated to the trading public that the sole authoritative platform for Customs declarations, clearance, and valuation is https://bodogwu.customs.gov.ng, which receives exchange rates directly transmitted by the Central Bank of Nigeria.

Maiwada asserted: “For clarity and transparency, the exchange rate applied for Customs valuation on 6 February, 2026, was ₦1,365.56 per United States Dollar, as officially communicated by the Central Bank of Nigeria.  “All subsequent exchange rates applied by the Service have likewise reflected the official rates transmitted by the Central Bank of Nigeria and automatically implemented through the B’Odogwu platform in accordance with established national protocols.”

He also assured the Nigeria Customs Service remains firmly committed to transparency, consistency, and the facilitation of legitimate trade, while ensuring strict compliance with national fiscal and monetary policy directives.

“The Service assures all stakeholders, including the trading public, licensed customs agents, and international partners, that Customs clearance and valuation processes remain accurate, predictable, and aligned with statutory provisions and international best practices.

“The Service will continue to strengthen its systems, enhance operational integrity, and support Nigeria’s economic growth through efficient and accountable Customs administration,” Maiwada stated.

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