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Hike in duty exchange rate threatens Customs’ N5.1 trillion revenue target, as agents lament impact on import business

The Eyewitness Reporter 

The latest hike in the Customs duty exchange rate by the Central Bank of Nigeria (CBN) has thrown the freight forwarding business into disarray as the practitioners are presently reeling under the heavy impact of the increase.

It would be recalled that the trading public woke up Friday, February 2nd, 2024 to the shocking news that the CBN, once again and for the umpteenth time, has jerked up the Customs duty exchange rate from N951.941 to N1, 356.888 per dollar.

The announcement, which came like a bolt out of the blue, jolted the trading public, especially the customs brokers and importers, who were still smarting from the last increase done shortly before last Christmas.

The latest hike has thrown the customs brokers into a pensive mood as they watch the gradual decline in their business.

“This is one hike too many ” a notable Customs broker who ply his trade in Apapa port but craved for anonymity, lamented.

“It is now clear that this government is determined to ruin and run us out of business.

“When we are yet to get over the effect of the last hike in December, coming with this new one barely one month after, is a killer punch” he declared with a tinge of pain in his voice.

“Who could afford to pay between N10 million to N14 million customs duty on 40 footer container as a result of the latest hike?” he asked rhetorically.

” Even, if you manage to pay, the consumers will bear the brunt as the importers will automatically pass on the buck” he noted.

Prince Ozo Chukwurah, the Vice Chairman, the Board of Trustees of the Association of Nigerian Licensed Customs Agents (ANLCA), aligned with the position of the anonymous respondent.

“As of October 2023, the duty rate on 40 footer container was in the region of N5 million. We were then trying to cope with that.
“Now, you will need more than N9 million to clear the same container with the latest increase and the exchange rate will continue to go up” the ANLCA chieftain lamented.
Alhaji Tanko Ibrahim, the Coordinator of the 100 percent compliance team of the National Association of Government Approved Freight Forwarders(NAGAFF) spoke with similar pain in his voice.
” Even if you import shit( faeces) in a 40-foot container, you will pay nothing less than N10 million as customs duty as a result of this latest increase. For others, you could pay between N12 million to N15 million” he stated.
” But I bet you, all these will go back to the masses because the importer will get his money back while the masses, the final consumers, will bear the brunt.” Alhaji Ibrahim said.
He expressed anger at the insensitivity of the CBN whom he accused of raising the exchange rate for customs duty at the drop of the hat.
” My anger is that anytime the exchange rate rises in the forex market, the CBN will quickly raise the rate for Customs duty but will not bring it down when there is a fall in the exchange rate in the foreign exchange market” he lamented.
He disclosed that there is a massive hunger in the land.
” It is even fair in Lagos because of its status as the commercial capital of the country but go to other towns and cities, especially in the rural areas where people are suffering. “
” Could you imagine that a bag of beans in the North where it is produced is now about N80,000?
“How much will it sell in Lagos when it gets there” he asked rhetorically.
However, all the respondents believe that the rising exchange rate for duty will affect the realisation of the N5.1 trillion revenue target of the customs.
They said the situation will lead to a drastic drop in importation as many importers will either abandon their cargo at the ports for those whose consignments are caught in the web of the latest hike or refuse to bring in goods due to the increase.
“There will be less importation because of the scarcity of dollars and the hike in the exchange rate for customs duty.
“This will have a negative impact on the revenue target of customs”
” Even if they manage to collect it, the amount will be worthless in the face of the rising inflation in the country. It won’t have much impact on the economy” Chukwurah noted.
Alhaji Tanko Ibrahim said importers will cease importation to study the situation because the foreign exchange market is volatile and highly unpredictable.
” This rate will keep rising. I heard that in a little while, the CBN will still increase the customs duty exchange rate to N1,500 per dollar based on its penchant to respond to the increase in the forex market” he claimed.
The respondents were therefore unanimous in their views that it would be an uphill task for the customs to meet its revenue target this year due to the harsh operating environment at the Ports
” Revenue targets are proposals and the Customs don’t have to kill themselves and the clearing agents in their efforts to meet them,” Prince Chukwurah said.
” I am very sure the Customs officers too don’t like what is happening because they too are Nigerians who are not immune against the hardship in the country.
” We all go to the same markets” Alhaji Ibrahim, the NAGAFF chieftain observed.
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Customs

Relief as Customs grants January 31st, 2026 extension for fast track operators to migrate to AEO

Funso Olojo
The Nigeria Customs Service has now extended the earlier December 31st, 2025 deadline for the migration of importers from fast track scheme to Authorized Economic Operator (AEO) to January 31st, 2026.
The extension, according to the Customs Authority, is meant to absorb more fast track operators into the AEO programme, deepen trade facilitation, secure supply chain and strengthen compliance in line with global standards.
As a result of the extension, Customs high command advised all existing Fast Track beneficiaries who are yet to complete their migration are to initiate and conclude their AEO applications through the official platform: aeo.nigeriatradehub.gov.ng.
“The extended timeline provides operators with ample opportunity to meet programme requirements and secure AEO certification without disruption to their business operations.
” For enquiries, technical support, or guidance, stakeholders may reach the dedicated helpdesk via aeo@customs.gov.ng.
“Only companies duly certified under the AEO Programme will continue to access the facilitation privileges previously available under the Fast Track Scheme.
The AEO Programme is a globally recognised compliance-based initiative that grants trusted operators enhanced benefits such as expedited cargo release, reduced documentation, lower inspection levels, pre-arrival processing, and greater predictability in cross-border trade.
” The extension reinforces the Service’s commitment to ensuring a seamless and inclusive transition process for all stakeholders.
“This decision to fully migrate from the fast-track scheme to AEO is consistent with the World Customs Organisation (WCO) SAFE Framework of Standards and is supported by Sections 108 to 111 of the Nigeria Customs Service Act, 2023.
To further support stakeholders and sustain ongoing sensitisation efforts, the Service will convene another comprehensive Stakeholders Engagement Forum to provide practical guidance on the migration process, demonstrate application procedures, and address compliance-related concerns.
 The forum is scheduled for Thursday, 18 December 2025, at the Lagos Continental Hotel, Lagos, from 0900hrs to 1600hrs.
“Participants will have the opportunity to interact with AEO implementation teams and obtain detailed information on programme requirements, benefits, and operational modalities.
“The NCS urges all fast-track beneficiaries to take advantage of the extension period, participate actively in the engagement forum, and complete their transition to the AEO Programme.
” This proactive involvement not only ensures compliance with applicable regulations but also enhances the supply chain’s effectiveness and sustainability, fostering a collaborative environment that benefits all parties.
“The Service remains committed to driving trade efficiency, enhancing Nigeria’s global competitiveness, protecting national revenue, and promoting a predictable, transparent, and secure cargo clearance ecosystem that supports legitimate business” the agency declared.
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Customs

Again, Customs, NDLEA Collabo intercepts 2,374 packages of Canadian Loud at Apapa Port

– Comptroller Oshoba warns illicit traders against daring resolve of Customs Officers at Yuletide season 
Funso OLOJO 
For the second times in a week,  the impregnable wall of surveillance mounted by the combination of the Apapa Customs and the  National Drug Law Enforcement Agency (NDLEA) against the exit of  illicit drugs from Apapa Port has interdicted a 20- foot container marked FCIU 6369526 laden with 2,374 packages of cannabis concealed in 55 bags with a  total weight of 1,187kg.
This interception, the product of a credible intelligence, came barely 5 days both agencies uncovered 25.5kg cocaine in a Brazilian flagged vessel.
The latest seizure was suspected to be
Canadian Loud, an expensive strain of cannabis concealed inside an imported vehicles.
 Both agencies, in the course of joint examination, discovered the seizure which has been taken into the custody of the NDLEA.
A breakdown of the drugs indicates that they were packed in 500 grams per sachet
Speaking on the seizure, Comptroller Emmanuel Oshoba, Customs Area Controller of Apapa Port Command, commended the robust synergy between the NCS and NDLEA while reiterating the service zero tolerance for smuggling.
 ” Few days ago, I stated that no consignment will exit our control from this port without due check. Our synergy as agencies of government will always put us ahead of criminal elements.
 “No matter the volume of trade we are processing, we will never sacrifice national security and economy for any form of trade.
“While we are focused on collecting maximum revenue for government, our eagle eyed officers are activated to be alert at all times.
 ” Let me warn, once again for the umpteenth time, any trader- importer, exporter, freight forwarder or licensed customs agent that dares our resolve this Yuletide season and beyond ,will face the full wrath of the law.
“Investigations are ongoing on this seizure and we shall bring the perpetrators to book” Comptroller Oshoba said.
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Customs

Comptroller Aliyu vows to sustain onslaught on smugglers as he assumes duties at FOU A

Funso OLOJO 
Comptroller Gambo Aliyu, the new controller of the Federal Operations Unit (FOU ) A of the Nigeria Customs Service, has expressed his determination to sustain the ongoing stranglehold on smugglers and other illicit traders within the Zone
Comptroller Aliu make this pledge on Wednesday, December 10th, 2025 when he assumed duties as the helmsman of the Zone A anti- smuggling unit.
He expressed gratitude to the Comptroller General of Customs, Adewale Adeniyi and his management team for the opportunity to serve in the unit.
The new controller also commended outgoing Controller of the Unit, Muhammed Shuaibu, who has been elevated to an Assistant Comptroller General for his outstanding service, achievement and pledged to consolidate on them for greater success.
“I assure you that we will consolidate on these achievements for even greater successes.
“The FOU Zone A plays a critical role in enforcing compliance,  suppressing smuggling and safeguarding the economic integrity of our dear nation.
” I am aware of the enormous responsibilities that come from this position especially within a zone as strategic, dynamic and challenging as Lagos and its environment.
“However, I am confident that with the cooperation and professionalism of the gallant officers and men of this command , we will continue to fulfill this mandate diligently.”
Aliyu, who until his new disposition, was the Customs Area Controller of Oyo/ Osun Command, outlined other key areas of focus that will guide the unit under his watch to include professional conduct and discipline among officers, stakeholders engagement as well as capacity building and welfare of officers.
He said, “High standards of ethics, discipline and integrity as well as accountability will remain non-negotiable.
” Every officer must ensure that their actions reflect the core values of the service.
“We will deepen collaboration with sister agencies ,community leaders and the trading public to strengthen border security and facilitate lawful trade.
“The motivation and welfare of officers will be prioritized to ensure improved efficiency and operational readiness.”
Aliyu assured stakeholders and the trading public that justice, equity and fairness will guide the unit’s actions at all times.
He added that the unit’s operations under his watch would be underpinned by three cardinal objectives including management change, compliance management, and reputation management.
He called on all officers and stakeholders to join hands with him in this new role, promising to operate an open door policy.
Earlier, in his valedictory speech,  outgoing Controller, ACG Shuaibu, highlighted the unit’s major successes during his seven-month tenure, which began on April 23, 2025.
He stated that the unit recorded a total of 476 interceptions, comprising 761 seized items with a total Duty Paid Value (DPV) of over N10.151 billion.
Some of the notable seizures listed included: 23,000 bags of 50kg foreign parboiled rice (equivalent to 38 trailers).
 98 ‘tokunbo’vehicles, 2,350 kilograms of Cannabis Sativa, and 1,820 jerry cans of Premium Motor Spirit (PMS).
Others are 15 assorted rifles and 4,841 rounds of ammunition, two industrial drones, 25 kilograms of crystal methamphetamine, and 4 cylinders of Russian-made explosives (each weighing 50kg), seizure of $30,000 and 110 CFA, totaling N31 million, which has been secured as final forfeiture to the Federal Government.
Additionally, he said the unit within the review period arrested 38 suspects and handed over eight containers of expired pharmaceutical products valued at N7.5 billion to NAFDAC, among other items.
Beyond enforcement, ACG Shuaibu stated that the unit recovered a total sum of N419,202,458.85 through demand notices issued on questionable declarations and undervalues, ensuring compliance with import and export regulations.
He attributed the successes to the unwavering support of stakeholders and dedicated officers, urging them to extend the same level of cooperation to Comptroller Aliu.
“I am confident that the foundation we have built will continue to flourish. Our shared objective remains to sustain prudent stewardship and strengthen the fight against smuggling.
” To my successor, I extend heartfelt congratulations on your appointment. I wish you great success and have no doubt that your leadership will usher in new perspectives and further advancement in these pivotal roles, ” he said.
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