CBN Slashes Customs Duty Dollar Exchange Rate to Clear Goods at Ports [Video]

• The CBN has once again changed the customs duty rates for importers clearing goods at the nation’s ports and airports
• New data shows that businesses and importers who have struggled to clear their goods will now pay less
• There is a strong call for the federal government and the Central Bank of Nigeria to peg the exchange rate at N1,000 per dollar

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Central Bank of Nigeria (CBN) has announced a new customs duty rate for importers clearing goods at the ports.

According to data from Nigeria’s trade portal, importers looking to clear goods will pay N1,569.53 per dollar as of Wednesday, August 22, 2024.

This is a 0.35% increase compared to the N1,575.19 exchange rate quoted on Tuesday, August …