Federal Government Increases Exchange Rate for Cargo Clearance to N1,605/$

• The Federal Government adjusts cargo clearance exchange rate to N1,605/$, citing recent fluctuations and economic landscape changes
• Nigeria Customs Service portal reflects updated exchange rate, indicating ongoing adjustments in the country’s economic environment

The Federal Government, acting through the Central Bank of Nigeria, 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, which saw it rise to N1,515/$ before temporarily dropping to N1,472/$. Since January, the rate has undergone several revisions, starting from N952/$ in December and gradually increasing to N1,605/$.

The Nigeria Customs Service portal now reflects the updated exchange rate, highlighting the ongoing adjustments in the country’s economic landscape.