CBN asks Customs to adopt same FX rate for importation and clearance of goods

The Central Bank of Nigeria (CBN) has directed the Nigerian Customs Service (NCS) to adopt the same forex rate for importation and clearance of goods in the country.

The apex bank gave the directive in a circular issued on Friday by its Director of Trade and Exchange Department, Hassan Mahmud.

It asked the Customs to adopt the forex closing rate on the date of Form M submitted by importers for the clearance of goods and import duty assessment.

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