Nigeria Customs - Continue with Extant Rates until CBN Review

Proshare

Wednesday, June 01, 2016 7.13AM / Press Release

The attention of the Nigeria Customs Service has been drawn to a misleading publication in some online platforms claiming that the Service has announced N285 per dollar for duty calculation as from 1st June 2016.

For the avoidance of doubt, the responsibility of fixing official duty rates is the function of the Central Bank of Nigeria (CBN) hence the Service could not have been the one to announce a new official rate as purported in the publication that gave no source. The extant rate issued by CBN which is still the basis for duty calculation is N197.

Nigeria Customs Service has not received any new rate from the CBN neither is it aware of any dissemination of contrary information on this subject matter.

The General Public is therefore advised to discountenance the misleading publication and continue to comply with the extant rates until such a time as may be deemed fit for review by the CBN.

Wale Adeniyi

 

Public Relations Officer

Comptroller-General of Customs

 

Related News

1.       Customs reacts as naira crashes to N285/$1 at interbank May 31, 2016

2.      CUSTOMS RE-IMPOSES RESTRICTION ON RICE Mar 22, 2016

3.      SPEECH BY THE COMPTROLLER-GENERAL OF CUSTOMS COL. HAMEED IBRAHIM ALI (RTD) ON THE OCCASION MARKING INTERNATIONAL CUSTOMS DAY  Jan 26, 2016

4.      Nigerian Customs suspends GTB, Fidelity & Diamond from collecting ... Jul 29, 2015

5.      CET Takes Effect: Is Nigeria Ready? - Proshare Jan 28, 2015 

Related News
SCROLL TO TOP