B’Odogwu System Does Not Set FX Rates, Customs Explains

The Nigeria Customs Service has stated that its Unified Customs Management System, B’Odogwu, does not create, replace, or adjust exchange rates used in cargo clearance procedures.

The Service explained that the platform only applies official foreign exchange rates supplied electronically by the Central Bank of Nigeria. It added that when technical adjustments affect data transmission formats, the system is designed to maintain the most recent valid Central Bank rate until a fresh update is successfully received, thereby ensuring continuity and accuracy in customs valuation.

Read Also:

• Customs Transfers ₦36.5m Expired Raw Materials to NAFDAC
• Court Orders Forfeiture of Private Jet Over Unpaid N1.04bn Customs Duty

The clarification was provided by the Service’s National Public Relations Officer, Abdullahi Maiwada, who noted that recent public conversations around exchange rate application and customs valuation made it necessary to explain how the system operates.

He said B’Odogwu remains the single authorised platform for customs declarations, clearance processing, and valuation activities. According to him, the Service does not independently fix exchange rates or apply margins to foreign currency values used for import and export assessments.

Maiwada explained that exchange rates are transmitted directly from the Central Bank into the customs platform through structured electronic integration. Once received, the rates are automatically implemented across all customs commands, ensuring uniform application, transparency, audit reliability, and compliance with national fiscal and monetary guidelines.

He emphasised that the system does not generate alternative exchange values under any circumstance. Instead, it simply processes and applies rates provided by the Central Bank.

The spokesman further clarified that if transmission disruptions or format changes occur, the platform temporarily retains the last valid rate until the new data feed is successfully integrated. This, he said, helps prevent valuation inconsistencies and avoids interruptions to cargo processing.

Addressing reports of a higher exchange rate quoted for early February, Maiwada stated that the figure did not originate from the customs platform. He explained that it came from an outdated public trade portal which does not reflect live customs processing information.

For clarity, he disclosed that the official rate applied for customs valuation on the referenced date was ₦1,365.56 to the dollar, as communicated by the Central Bank. He added that all subsequent exchange rates used by the Service have similarly reflected only official transmissions and were automatically implemented through the B’Odogwu system.

Maiwada noted that the Service is currently collaborating with the Central Bank to introduce application programming interface integration aimed at improving real-time exchange rate transmission, system stability, and operational efficiency.

He reaffirmed the agency’s commitment to transparency, predictable trade processes, and strict adherence to statutory provisions. He assured importers, exporters, clearing agents, and international partners that customs valuation procedures remain consistent, accurate, and aligned with international standards.

The Service, he said, will continue improving its digital systems and operational safeguards to facilitate legitimate trade while supporting broader economic growth through accountable customs administration.