Nigerian Customs Hikes Dollar Exchange Rate for Cargo Clearance to N1,356, Raising Cost Concerns
- Federal Government raised exchange rate for cargo clearance from N952/$ to N1,356 per dollar
- Coming weeks after rate increased from N783/$ to N952/$ in December
- Rate was N757/$ in November before being raised to N783/$
- Increase reflected on Nigeria Customs Service portal
- Customs agents and freight forwarders concerned about impact on cost of clearing and imports