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Home Economy Customs Import Duty Rate Falls To N1,238/$
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Customs Import Duty Rate Falls To N1,238/$

By
Prnigeria
-
April 11, 2024
Comptroller General Nigerian Customs Bashir Adewale
Comptroller General Nigerian Customs Bashir Adewale

Customs Import Duty Rate Falls To N1,238/$

 

The Central Bank of Nigeria has further adjusted the foreign exchange rate for Customs import duties downwards to N1,238/1$ on Wednesday.

 

The latest download adjustments represents a 6.8 percent drop compared to N1,246.66/$ displayed on April 8.

 

It fell below the official foreign exchange rate, which closed at N1,248.5/$ on April 9 at the Nigerian Autonomous Foreign Exchange Market (NAFEM).

 

Read Also:

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The latest development in the FX rate for customs tariffs and duties is coming amid the Central Bank of Nigeria‘s (CBN) effort to stabilise the naira.

 

Recall that on April 8, the apex bank announced the sales of forex to the bureau de change (BDC) operators at the rate of N1,101/$.

 

To further strengthen the CAN  also directed all banks to stop the use of foreign currency-denominated collaterals for naira loans.

 

Recall also that the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), through its President, Dele Oye recently said that the Customs rate for import duties should be charged in naira rather than in dollars.

 

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Beyond Hoes and Sticks: The Power of Education for Peace in ArewaNigerian Air Force Welcomes 30 New Helicopter Pilots, Commissions Upgraded FacilitiesFG Pledges Stronger Support for Blood Services, Seeks Scalable Interventions from NBSATinubu's Government Unveils Multi-Sectoral Initiatives to Boost Northern Region's DevelopmentFG Redesigns Agricultural Curriculum to Empower YouthFG Secures China Funding to Fast-Track Kaduna–Kano Rail CompletionFG Unveils Livestock Blueprint to End Herdsmen-Farmers CrisisFG Completes 135 Roads, Launches 216 New Projects in Northern NigeriaJUST IN: Tinubu Appoints Olumode Adeyemi New CG of Fire ServiceTroops Neutralise 6 Terrorists in Coordinated Operations Across Borno, Recover FirearmsPolice Nab Woman Linked to Murder of Pregnant Nurse, Mutilation in Anambra NIPR Slams Fake News Peddlers over Alleged Lafia Flyover CollapseTinubu Offers Automatic Jobs, Gifts N250k to 210 Ex-CorpersKaduna Governor Appoints Strategic Communicator, Ahmed Maiyaki as Information CommissionerCustoms Partners US Mission to Prevent Expanded Visa Ban
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