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The Central Bank of Nigeria, acting on behalf of the Federal Government, has once again adjusted the exchange rate for cargo clearance, setting it at N1,605/$. This latest adjustment follows recent fluctuations in the exchange rate, with the rate climbing to N1,515/$ before briefly dropping to N1,472/$.
Since the beginning of the year, the exchange rate has experienced several adjustments, starting from N952/$ in December and gradually increasing to N1,356/$ in January. Subsequent increases saw the rate reaching N1,413/$ and then N1,444/$ before the recent peak at N1,515/$, culminating in the current rate of N1,605/$.
Visiting the portal of the Nigeria Customs Service on Wednesday, our correspondent confirmed that the new exchange rate was reflected, signaling its implementation in cargo clearance processes.
