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For the third time in one week, CBN again hikes Customs duty rate to N1417.635 per dollar

CBN Governor, Olayemi Cardoso
The Eyewitness Reporter
Apparently unperturbed by the massive suffering that pervades the country, the Central Bank of Nigeria (CBN), for the third time in one week, has again raised the Customs duty exchange rate to N1,417.635 per dollar from N1,423.635.
The marginal increase was reflected Friday night on the Customs trade portal.
This increase came exactly one week on February 3rd when the CBN increased the rate to N1, 413.62 per dollar from N1356.883, barely 24 hours earlier.
The February 9th increase makes it the third time the apex bank would increase the rate in the last one week in defiance of the growing anger and hunger in the country.
Ibrahim Tanko, a frontline Customs broker and the National Coordinator, the 100 percent compliance team of the National Association of Government Approved Freight Forwarders(NAGAFF) has claimed that the Apex body has planned to increase the rate to N1500 per dollar in a short while.
The latest increase represents N4.015 and a percentage increase of 0.28 percent, which is below the official CBN exchange rate of N1,481.982/$ as of the morning of Saturday, February 10, 2024.
While the latest increase is the third in one week in 2024, it was also the seventh time the apex bank has adjusted exchange in the space of eight months since President Tinubu’s administration commenced the floating naira policy, a reform aimed at stabilising the forex market.The CBN had on June 24, 2023, adjusted the exchange rate from N422.30/$ to N589/$, and on July 6, 2023, it was adjusted to N770.88/$, on November 14, 2023, it was adjusted to N783.174/$, in December it was adjusted to N951.941/$, on February 2nd ,it was moved to N1, 356.883/$ and on February 3, it was raised to N1, 413.62/$ and now it has been raised to N1,417.635/$.

Stakeholders have expressed worries and described the CBN incessant increase of the rate as flippant which has make customs duty highly unpredictable and extremely high.
According to them, with the latest rate, the customs duty on a 40- footer container now hovers between N10 million to N17 million.
Comrade Onome  Monije, the Public Relations officer of the Tin Can Command of the Association of Nigerian Licensed Customs Agents ANLCA(ANLCA) advised her fellow customs brokers to be mindful of their price quotations for their clients in order not to incur unnecessary debts due to the flippant way the CBN was increasing customs duty exchange rate.
According to her, prior to the new rate and at the last rate of N1413 per dollar, the lowest vehicle on the customs system is Toyota Corolla. It has FOB 3945 old  exchange Rate calculations thus;
Total duty @951= 1,773,000, Total Duty @1413=2,633,000
Difference =     N860,000For the Toyota Camry, the  FOB is  4568 at the old exchange. Rate Total duty @951= 2,053,603
Total Duty @1413=3,045,805
Difference =     N993,000

With the new rate of N1416.635 per dollar, the prices are expected to have further increased.

“I want to suggest we always write in our price quotations based on the floating  exchange rate as it applies currently” she advised her professional colleagues who have already become frustrated and highly distraught with the new development.

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Customs

Customs PR officers dominate NCCSC graduation, clinch overall best honours

Gloria Odion, Maritime reporter 

The Public Relations Unit of the Nigeria Customs Service has recorded a rare academic feat as two of its officers emerged the top graduating students at the Nigeria Customs Service Command and Staff College (NCCSC), Gwagwalada.

At the graduation ceremony for Senior Course 14 held on Friday,June 26th, 2026,  Chief Superintendent of Customs (CSC) Ridwan Yusuf was named the Overall Best Graduating Student, capping an outstanding performance by winning three additional awards.

His colleague, CSC Nuruddeen Sa’idu, was named the Second Best Graduating Student, completing a remarkable sweep by officers from the Service’s Public Relations Unit.

The double honour highlights the intellectual depth, leadership capacity and professionalism within the Customs Public Relations Unit, demonstrating that its officers excel not only in strategic communication but also in administration, operational management and policy leadership.

Beyond the accolades, the achievement is expected to open another chapter in their careers, as both officers may be retained by the College as Directing Staff, in keeping with the institution’s tradition of engaging its highest-performing graduates to mentor future participants.

If confirmed, the appointments would recognise their exceptional academic and professional abilities while entrusting them with the responsibility of shaping the next generation of Customs leaders, although their absence would be keenly felt within the Public Relations Unit.

The Nigeria Customs Service Public Relations Unit congratulated both officers on their outstanding accomplishments and wished them continued success as they assume greater responsibilities in service to the nation.

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Customs

Retirement gale sweeps through Customs as Olomu,Bomodi,Oladeji,Adeola,Adebakin, Niagwan among 1,516 officers set to exit service

Funso OLOJO, Editor

A massive retirement wave is set to rip through the Nigeria Customs Service (NCS), with no fewer than 1,516 officers — including several top-ranking officers — pencilled down to leave the Service in 2026 and 2027 in what appears to be one of the largest personnel exits in the agency’s recent history.

The impending retirement storm, which cuts across virtually all cadres of the Service, will see officers from the rank of Deputy Comptroller-General down to Customs Assistant II bow out under statutory retirement provisions, leaving a major vacuum in the upper and middle ranks of the paramilitary agency.

Documents obtained by TheEyewitnessnews show that 825 officers are scheduled to retire in 2026, while another 691 are expected to leave in 2027, bringing the total number of exits within the two-year period to 1,516.

The retirement notices are contained in two restricted circulars issued by the Human Resources and Development Department of the Service and signed by the Comptroller, Establishment, A.A. Bazuaye, on behalf of the Deputy Comptroller-General in charge of Human Resources and Development.
The first circular, No. HRD/2025/048 dated September 19, 2025, contains what the Service described as the final list of 825 officers billed to retire in 2026.

A breakdown of the 2026 list shows that the Deputy Superintendent of Customs cadre accounts for the highest number of exits with 285 officers, followed by the Superintendent of Customs cadre with 226 officers.

Other cadres affected in the 2026 retirement exercise are Assistant Superintendent of Customs I with 64 officers; Chief Customs Officer, 53; Deputy Customs Officer, 51; Assistant Customs Officer, 46; Chief Superintendent of Customs, 61; Inspector of Customs, eight; Assistant Superintendent of Customs II, 10; Customs Assistant I, one; Customs Assistant II, two; Assistant Comptroller-General, 13; and Deputy Comptroller-General, five.

A second circular, No. HRD/2026/020 dated May 26, 2026, forwarded a draft list of 691 officers due for statutory retirement in 2027.

The 2027 retirement schedule shows that the Superintendent of Customs cadre will record the highest number of exits with 200 officers, followed by the Deputy Superintendent of Customs cadre with 193 officers.

Others on the 2027 list are Deputy Customs Officer, 81; Chief Superintendent of Customs, 68; Assistant Customs Officer, 57; Assistant Superintendent of Customs I, 39; Chief Customs Officer, 38; Assistant Superintendent of Customs II, four; Customs Assistant I, four; Customs Assistant II, four; Inspector of Customs, two; and Assistant Comptroller-General, four.

Both circulars directed all affected officers to proceed on mandatory pre-retirement leave in line with Public Service Rule 100238 and Federal Government Circular No. 63216/S.1/X/T; CR 1/2001/5 of March 20, 2001.

The directive stated that all officers due for retirement must disengage from active service and proceed on three months’ pre-retirement leave ahead of their effective retirement dates, while also forwarding their three-month pre-retirement notices to the Comptroller-General of Customs.

Among the senior officers affected in the 2026 retirement exercise are Deputy Comptrollers-General Omale (SVC No. 41148), who retired on June 7, 2026; Nnadi (SVC No. 43193), whose retirement took effect on March 3, 2026; Chiroma (SVC No. 42988), who is due to retire on September 23, 2026; and Adeola MRS (SVC No. 42972) and Niagwan (SVC No. 41524), both scheduled to retire on December 23, 2026.

Among the Assistant Comptrollers-General on the 2026 retirement list are Egwuh (SVC No. 38991), who retired on March 14, 2026; Umoh (SVC No. 41351), who exited the Service on February 2, 2026; Mohammed (SVC Nos. 41394 and 41395), both due to retire on June 24, 2026; and Abe (SVC No. 41110), whose retirement date is August 21, 2026.

Others listed for retirement include Olomu (SVC No. 41145), Olaniyan (SVC No. 41197), Yusuf (SVC No. 41257), Oladeji (SVC No. 41308) and Gaji (SVC No. 41328), all scheduled to retire on September 24, 2026.
Also on the list are Adebakin (SVC No. 41670) and Bomodi (SVC No. 42758), both due for retirement on September 23, 2026, as well as Nyam (SVC No. 40428) and Abubakar (SVC No. 40139), whose retirement dates are October 1, 2026, among others.

In the 2027 circular, the Service opened a window for complaints and corrections, directing that any observed error, omission or legitimate complaint arising from the attached retirement list should be forwarded to the office of the Deputy Comptroller-General, Human Resources and Development, on or before July 31, 2026.

To ensure the notices get to all affected officers, Zonal Coordinators, Area Controllers and Unit Heads were directed to circulate the retirement lists across commands and formations.

But beyond the raw figures, the sweeping retirement exercise has exposed a deeper structural imbalance in the Service.

Chairman of the House of Representatives Committee on Customs and Excise, Abejide Leke Joseph, traced the development to a prolonged recruitment gap and years of promotion stagnation in the Nigeria Customs Service.

According to him, a 16-year period of non-recruitment created an unusual personnel bulge, as officers within the 41000, 42000 and 43000 service number brackets rose through the ranks almost at the same pace and now find themselves hitting retirement age or service limits within the same window.

The result, he explained, is a top-heavy structure in which a large number of officers now occupy similar seniority levels and are due to leave almost simultaneously.
Abejide said the retirement of more than 1,500 officers should not be misconstrued as part of any succession plot within the Customs hierarchy, insisting that the exercise is a routine and legally mandated process under Public Service Rule 100238.

The development is coming against the backdrop of President Bola Ahmed Tinubu’s approval of a final six-month tenure extension for the Comptroller-General of Customs, Adewale Adeniyi, effectively keeping him in office until February 2027.
The Presidency announced on Friday that Adeniyi’s tenure, earlier scheduled to expire on August 1, 2026, had been extended by another six months to enable him complete key reforms in the Service.

In a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency said the extension would allow the Customs boss to consolidate the implementation of the National Single Window project and also ensure an orderly succession process in the Service.

More significantly, the statement made it clear that Adeniyi would work with the Nigeria Customs Service Board during the transition period to oversee critical personnel decisions, including the promotion of eligible officers to the rank of Comptroller and the compulsory retirement of officers who have attained 60 years of age or put in 35 years in service.

That presidential directive effectively places Adeniyi at the centre of one of the most consequential personnel transitions in the recent history of the Nigeria Customs Service — a transition that will shape not only the next generation of Customs leadership, but also the internal balance of power within the Service.

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Customs

Excitement as President Tinubu Extends CGC Adeniyi’s Tenure by Six Months

Funso OLOJO, Editor

A wave of excitement swept through the maritime industry following President Bola Ahmed Tinubu’s approval of a six-month extension of the tenure of the Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi.

In a statement issued on June 19th, 2026, and signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, President Tinubu said the extension was necessary to enable Adeniyi to consolidate ongoing reforms, particularly the implementation of the National Single Window project, while also ensuring an orderly succession process within the service.

According to the Presidency, Adeniyi’s current tenure was due to expire on August 1st, 2026.

The six-month extension will now keep him in office until February 2027.

During the transition period, Adeniyi is expected to work closely with the Nigeria Customs Service Board to oversee the promotion of qualified officers to the rank of Comptroller of Customs and facilitate the compulsory retirement of officers who have attained the statutory retirement age of 60 years or completed 35 years in service.

Adeniyi joined the Nigeria Customs Service after graduating from Obafemi Awolowo University in the late 1980s.

He steadily rose through the ranks, becoming a Deputy Comptroller in 2012, Comptroller in 2017, Assistant Comptroller-General in 2020, and Acting Deputy Comptroller-General in January 2023 before being appointed Comptroller-General by President Tinubu in June 2023.

Maritime stakeholders who welcomed the development described the extension as an opportunity for the Customs boss to complete the far-reaching reforms he initiated within the service.

One freight forwarder, who preferred anonymity, described the decision as a positive development.

“This is a welcome development because it will enable the Comptroller-General to complete the reforms he has started in the Nigeria Customs Service,” he said.

“His tenure has been a watershed in the history of the NCS.

“The service has witnessed unprecedented transformation in its operations, revenue generation, trade facilitation, and anti-smuggling activities.

“Granting him an extension is a well-thought-out administrative decision by President Tinubu to allow him to complete these achievements.”

Another stakeholder said the extension reflects the confidence of the Presidency in Adeniyi’s leadership.

“The tenure extension is a clear endorsement of Adeniyi’s transformative leadership of the Nigeria Customs Service and the progress recorded under his administration,” the stakeholder remarked.

Industry observers believe the extension will provide continuity for ongoing modernization initiatives and help sustain the momentum of reforms aimed at enhancing trade facilitation, revenue collection, and border security.

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