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Nigerian Customs

Customs to Use Exchange Rate on Date of ‘Form M’ for Import Duty Assessment – CBN

CBN Directs Customs: Use Form M Exchange Rate for Import Duty Calculation.   In a recent directive, the Central Bank of Nigeria (CBN) has instructed the Nigerian Customs Service (NCS) to adopt the foreign exchange (FX) closing rate on the…

Nigerian Customs Earns 87% Of Its 2023 Target Revenue

The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, recently revealed that the organization fell short of its revenue target for 2023, reaching 87% of the projected N3.68 trillion. Despite facing a challenging operational environment, the NCS achieved a…