By Hauwa Ali
The Nigeria Customs Service (NCS) has increased the official exchange rate of import duties and levies from $409 to $422.30, making it a 3.25 per cent increase on all Customs charges on goods coming into the country through the airports, seaports and land borders.
According to a customs agent, many stakeholders affected by the hike have condemned the action, saying that it took them unawares.
“We are hearing today that Customs has increased its exchange rate from $409 to $422.3. And you will not know until you put in your documents and it will calibrate. There is hullabaloo in the port. People are talking about it since morning. People are not happy because they said the Customs took them unaware,” former National President, Association of Nigeria Licensed Customs Agents (ANCLA), Prince Olayiwola Shitu, said.
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Meanwhile, the Nigeria Customs Service (NCS) has said that its clearance system was not responsible for the rise in the exchange rate.
The NCS Spokesman, Timi Bomodi (DC), explained on Tuesday, that the rate of exchange used to calculate duty Payments is not static.
He said that the Central Bank of Nigeria is the only organization vested with the authority to determine official rates as applicable for the purpose of calculating duties and other taxes applicable for import and export.
He however assured the trading public that the Service was committed to trade facilitation and would continue to play that role, in the interest of the nation’s economy.
