CBN Increases Customs Duty by 2.6%, Adding to Importers’ Challenges

CBN Updates Naira-Dollar Exchange Rate for Customs Duties, Nigerian Customs Service Implements Changes, Posing Challenges for Businesses and Importers

The Central Bank of Nigeria has revised the exchange rate for calculating customs duties, leading to increased burdens for businesses and importers. Products like iPhones, cars, and those not entirely manufactured in Nigeria are expected to see price hikes.”

“The Nigeria Customs Service Raises Exchange Rate for Import Duties at Seaports”