Central Bank of Nigeria reduces exchange rate for customs duties at Nigerian seaports, fourth time in 2024.
The Central Bank of Nigeria (CBN) has reduced the exchange rate for calculating Customs duties at Nigerian seaports for the fourth time in 2024, from N1630.159/$ to N1,544.081/$. This change aims to provide more stability for businesses importing goods into Nigeria and ease the financial burden on importers. The CBN has a history of adjusting the exchange rate, often to reduce volatility and promote a more predictable environment for international trade.
March 04, 2024
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