The Nigeria Customs Service (NCS) has said that its clearance system was not responsible for the rise in the exchange rate.
The NCS Spokesman, Timi Bomodi (DC), explained on Wednesday, that the rate of exchange used to calculate duty payments was not a static phenomenon and that the Central Bank of Nigeria remained the only organization vested with the authority to determine official rates as applicable for the purpose of calculating duties and other taxes applicable for import and export.
He assured the trading public that the Service was committed to trade facilitation and would continue to play that role, in the interest of the nation’s economy.