KEY POINTS
- Customs said B’Odogwu exchange rate data comes solely from CBN.
- System retains last valid rate if transmission format changes.
- NCS said February 6 rate applied was N1,365.56/$.
The Nigeria Customs Service has clarified that its Unified Customs Management System, known as B’Odogwu, does not generate or alter foreign exchange rates used for cargo clearance.
In a statement issued Monday, National Public Relations Officer Abdullahi Maiwada said all exchange rates applied within the platform are electronically transmitted by the Central Bank of Nigeria, which remains the sole authority for exchange rate determination.
The clarification follows recent public commentary regarding foreign exchange pricing and customs valuation practices.
B’Odogwu Exchange Rate Application Explained
Furthermore, Maiwada said B’Odogwu serves as the only official platform for customs declarations, clearance and valuation. He stressed that the NCS does not independently determine, generate or adjust exchange rates used for import and export assessments.
“The B’Odogwu system operates on structured data integration protocols that automatically ingest and apply exchange rate information as transmitted by the Central Bank of Nigeria,” he said. “Under no circumstances does the system generate, substitute, or alter exchange rates.”
According to him, where there is a change in data transmission format, the system retains the last valid CBN-provided rate until an updated feed is processed. This design, he said, ensures continuity and valuation integrity.
Maiwada also added that the system automatically integrates the rates it receives from the CBN and applies them uniformly across customs formations to promote transparency and ensure compliance with fiscal and monetary policy directives.
Clarification on Reported FX Figures
The NCS also addressed reports citing an exchange rate of N1,451.63/$ on February 6, 2026. Maiwada said the figure did not originate from the B’Odogwu system but from a legacy public trade information portal that does not reflect live customs processing data. For that date, he said, the official rate applied for customs valuation was N1,365.56/$, as communicated by the CBN.
The Service said it is working with the central bank to enable application programming interface-based integration to strengthen real-time transmission and system reliability.
Maiwada finally reiterated that B’Odogwu exchange rate processes remain aligned with statutory provisions and international best practices, assuring stakeholders that customs clearance and valuation procedures remain accurate and predictable.
