• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, June 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Experts Express Optimism As CBN Sets To Fix Customs Exchange Rate

by Yusuf Babalola
11 months ago
in Business
Naira is Nigeria's currency, Dollar is recognised world currency

Naira is Nigeria's currency, Dollar is recognised world currency

Share on WhatsAppShare on FacebookShare on XTelegram

Maritime experts have expressed optimism that the fixing of Customs exchange rate for clearance of cargoes at the nation’s seaports will reduce inflation, increase cargo importation into the country.
LEADERSHIP reports that the Comptroller General of Customs, Bashir Adewale Adeniyi, had recently announced that the Central Bank of Nigeria (CBN) and the Nigeria Customs Service (NCS), in support of the minister of Finance and Coordinating minister of the Economy, Wale Edun, are collaborating to achieve a stable rate for import of goods to enable business plan activities.

Advertisement

“With the support of the minster of Finance, NCS is working in close collaboration with the Central Bank of Nigeria to achieve a stable rate for import of goods to enable business plan activities,” the Customs CG said.

Speaking on the development, the the former acting president, Association of Nigerian Licenced Customs Agents (ANLCA), Dr Kayode Farinto, said the only solution to low volume of cargoes at the nation’s seaports is for the CBN to have predictive exchange rate for Customs purposes alone.

According to Farinto, in the last few months, there have been significant drop in the volume of cargoes in the country over the non stability of the exchange rate.

“The only solution is for us to have predictive exchange rate for Customs purposes alone. It’s not too much to ask. We pegged the exchange rate for pilgrims going to Saudi Arabia and Jerusalem during Buhari’s era. Why can’t we do the same for importers?”

RELATED

Local Energy Firms To Drive Nigeria’s Oil & Gas Dev’t

Local Energy Firms To Drive Nigeria’s Oil & Gas Dev’t

15 hours ago
Keystone Bank, Enterprise Dev’t Centre Sign MoU To Empower SMEs In Nigeria

Keystone Bank, Enterprise Dev’t Centre Sign MoU To Empower SMEs In Nigeria

18 hours ago

Also speaking, a clearing agent, Ikechukwu Anaba, said importers are currently unable to import due to fluctuating exchange rate.

The economy has been experiencing a decline in cargo volume in recent months, with many importers and clearing agents struggling to cope with the fluctuating exchange rate. The situation has also been difficult for freight forwarders, with many losing their jobs,” Anaba stated.

Anaba, however, suggested fixing a permanent Customs exchange rate for cargo clearance between N800/$ and N1,000/$, for a specified period, such as three months, six months, or a year.

He argued that fixing a static exchange rate for cargo clearance over three months to one year would not only foster economic stability but also ensure predictability in international trade within the maritime sector.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Nigerian Customs Service
SendShareTweetShare
Previous Post

Obi Names Hunger, Inflation, Unemployment As Protest Sponsors

Next Post

Seven Tips On How To Store Your Groceries

Yusuf Babalola

Yusuf Babalola

You May Like

Local Energy Firms To Drive Nigeria’s Oil & Gas Dev’t
Business

Local Energy Firms To Drive Nigeria’s Oil & Gas Dev’t

2025/06/25
Keystone Bank, Enterprise Dev’t Centre Sign MoU To Empower SMEs In Nigeria
Business

Keystone Bank, Enterprise Dev’t Centre Sign MoU To Empower SMEs In Nigeria

2025/06/25
cbn
Business

Dangote Cement Records N1.38trn Earnings, Up By 56%

2025/06/25
Neimeth Assures Shareholders Of Improved Performance
Business

Neimeth Assures Shareholders Of Improved Performance

2025/06/25
NAPTIN Earmarks 4,000 Youths For Meter Installation Training
Business

NAPTIN Earmarks 4,000 Youths For Meter Installation Training

2025/06/25
Nigeria, South Africa Forge Stronger Energy Ties To Boost Continental Grid Integration
Business

Nigeria, South Africa Forge Stronger Energy Ties To Boost Continental Grid Integration

2025/06/25
Leadership Conference advertisement

LATEST

NIPERA Will Regulate Maritime Sector, Protect Investments – Dr Akutah

UNICEF, Kwara Organise Maternal, Neonatal And Child Health Week

Kwara Cabinet Okays Returns Of Public Properties As Harmony Holdings Winds Down

4 Out Of 10 Undergraduates Are Into Drugs – NDLEA

The Plight Of Industrial Centres

Pollution: 14m Tonnes Of Plastic Obstructing World’s Oceans Annually – Minister

IBB Seeks Strong Voices To Defend Northern Interests

Running Mate: I Will Do Whatever President Wants In 2027 – Barau

Party Registration: Coalition Faces Hurdle Over Name Clash

Disruptions Loom In Oil, Gas Sector Over Helicopter Landing Fee

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.