NewsOnline Nigeria reports that the Nigeria Customs Service (NCS) has again adjusted the foreign exchange (FX) rate for duties to N1, 238.17 per dollar.
This represents a 6.8 per cent decrease compared to N1,246.66/$ displayed on April 8.
The rate adopted by customs was observed yesterday.
It fell below the official foreign exchange rate, which closed at N1,248.5/$ on Tuesday at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The drop in the FX rate for customs tariffs and duties is coming amid the Central Bank of Nigeria‘s (CBN) effort to stabilise the naira.
On Monday, the apex bank announced the sales of forex to the bureau de change (BDC) operators at the rate of N1,101/$.
The bank reduced its rate for dollar allocation to BDCs from N1,251/$ announced on March 25.
To further strengthen the naira, the financial regulator also directed all banks to stop the use of foreign currency-denominated collaterals for naira loans.
Nnamdi Kanu has sent message to a Former US Mayor Mike Arnold over his support…
Opposition parties in Nigeria has united to adopt a single presidential candidate to challenge Tinubu…
Across Nigeria, the consequences of poor leadership are impossible to ignore; erratic power supply, worsening…
Every year, thousands of candidates sitting for the Joint Admissions and Matriculation Board (JAMB) examination…
CBN has raised ATM card issuance fee to ₦1,500 and scrapped monthly maintenance charges. …
EFCC has arrested Ex-Skye Bank Chair Tunde Ayeni over alleged N36.5bn and $30m fraud. …
