The Nigeria Customs Service today further slashed the exchange rate for import duty calculations from N306 per dollar to N303 to the dollar.
Shipping Position Daily correspondent confirmed from Customs sources that the apex Central Band of Nigeria (CBN) brought down the rate early Wednesday.
This is the second time the CBN would be slashing the exchange within two weeks. Shipping Position Daily reported exclusive penultimate Wednesday that the CBN had brought down the rate from N316 to N306 per dollar.
This is even as the Association of Nigeria Licenses Customs Agents (ANLCA) has condemned the decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to cut down the lending rate of commercial banks.
However when they were contacted yesterday, the Apapa Customs Command spokesperson, Emmanuel Ekpa and his counterpart at Tin Can Island Port; Uche Ejesieme claimed that they have not been notified officially about the change.
The image makers for the two biggest commands of customs confirmed that transactions were still being carried out at the port yesterday using the old rate of N306 to a dollar.
Meanwhile National Publicity Secretary of ANLCA; Kayode Farinto told Shipping Position Daily exclusively yesterday that the Abuja headquarters of customs has confirmed a change in the exchange rate to N306 per dollars.
Farinto confirmed that the exchange has been stable in the last three weeks, but however predicted that it could increase further to N450 to a dollar by next month.
He said: "We woke up this morning to discover that it has been changed from N306 to N303, the rate it is going, it has been stabilised in the last few days, but I won't be surprised if by next week they shift it to N450"
Also speaking with our correspondent, image maker of ANLCA at Tin Can Port, Emmanuel Onyeme confirmed that as at Wednesday, the customs were still doing transactions at N306 per dollar.
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