The public has been informed by the Nigeria Customs Service (NCS) that it does not control exchange rates.
Timi Bomodi, Deputy Comptroller and Public Relations Officer, clarified this in a statement on Wednesday.
The statement cited stories that blamed the NCS for the hike in currency rate.
Bomodi emphasized that the Central Bank of Nigeria (CBN) was alone responsible for carrying out this duty.
The PRO said that the official rates used to determine import and export levies and other taxes are set by the apex bank.
“The rate of exchange used to calculate duty payments is not a static phenomenon.
“The trading public are advised to go about their business dealings with the full assurances of the Service’s commitment to trade facilitation”, he noted.
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