₦airaland Forum

I was here

That's great

I love women making waves for themselves

Ok

Ok

Nlmod. Front page please

Those meat are more than 100k here.
I don't know the quantity of other items like rice and beans

Terrible

This is why price of commodity goes up
Everyday
Very terrible

This terrible

CBN raises Customs duty rate to N1,417.635/$, third time in 2024
CBN raises Customs duty rate to N1,417.635/$, third time in 2024
Amaka Anagor-Ewuzie
Amaka Anagor-Ewuzie

February 10, 2024

CBN raises Customs duty rate to N1,417.635/$, third time in 2024
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The Central Bank of Nigeria (CBN) has for the third time this year, increased the exchange rate for calculating customs duties at the nation’s seaports to N1,417.635/$.

With the upward review, Nigerians will pay more to clear their goods at the port because import duties are benchmarked against the dollar.

According to information obtained from the official website of the Nigeria Customs Service, the exchange rate was reviewed upward on Friday 9 February from N1, 413.62/$ to 1,417.635/$.

This represents an increase of N4.015 and a percentage increase of 0.28 percent, which is below the official CBN exchange rate of N1,481.982/$ as of the morning of Saturday, February 10, 2024.

BusinessDay checks show that the current upward review of the exchange rate for calculating Customs import duty is the third in one week and also the third in 2024.

It is also the seventh time the apex bank has adjusted exchange in the space of eight months since President Tinubu’s administration commenced the floating naira policy, a reform aimed at stabilising the forex market.

The Customs had on June 24, 2023, adjusted the exchange rate from N422.30/$ to N589/$, and on July 6, 2023, it was adjusted to N770.88/$, on November 14, 2023, it was adjusted to N783.174/$, in December it was adjusted to N951.941/$, on February 2 it was moved to N1, 356.883/$ and on February 3, it was raised to N1, 413.62/$ and now it has been raised to N1,417.635/$.

Reacting recently in an interview, Bisiriyu Lasisi Fanu, former chairman of the Association of Nigeria Licensed Customs Agents at Seme Border, said the frequency at which the CBN is adjusting the exchange rate has become worrisome, which is why there is so much overtime cargo at the port.

“CBN can’t change the rate and expect the importer who has made his calculation on what the landing cost and profit will be based on the previous exchange rate to survive. How do you expect the importer to generate the difference immediately to clear the goods from the port? It is not possible,” Fanu said.

He said the hike in Customs duty through high FX rates will affect all goods in the market because every commodity in the market has imported input in them.

Noted

eepeepook:
Member since 2008. 152 comments since then. ROFLMAO.

But never been banned
And have good posts.
Thanks anyway.
But on the issues,
Any info?

jomarq:
Please sir/ ma'am,
I need information
Where I can do cataract surgery
The hospital I contact
Bill me 260k which
I can't afford.
Anyone with information
Where I can get it
Cheap will be appreciated
I live in agege Lagos.
Thanks in anticipation

it's urgent please my member

Please sir/ ma'am,
I need information
Where I can do cataract surgery
The hospital I contact
Bill me 260k which
I can't afford.
Anyone with information
Where I can get it
Cheap will be appreciated
I live in agege Lagos.
Thanks in anticipation
Nland mod. frontpage
frontpage

Please this is to warn the nlanders to becarefu with this number (0708 940 1661) his name is prince. Speak English, pidgin and ngwa very well. If he call and you pick. His mold of operations was to tell you all your problems which is always fact then swindle all your money. Please be wary everyone. Don't be a victim like me a word is a enough they said . this is ember month. My one cent. Thanks

Looking phone second hand Android phone for 10k.

Ok

Nlfpmod

Vote wisely

please all Nigerians should desist from politics of tribalism and fanatics As campaigns starts market your candidate without insulting other people choice of candidates.but remember, at the end.Tinubu/Atiku/Obi or kwankwaso must never lose but Nigerians may lose or win depend on who we choose among them.just like in 2015,Goodluck did not lose but Nigerians
vote wisely,,vote proudly,, don't see your vote THANKS and remain bless

emillysmigael:
Give us the full gist biko

just after I finished midnight prayers. I saw the snake on the bed I lie before praying

Kestolove:
Comot dix earthworm from hia, lala is not impressed.

black mamba is what you are seen there, very dangerous.just after prayer I saw this serpent on my bed but I do the needful

10x5550:
[s][/s]

I think lala don't do religion, I will take it to food or pet section

I kill this snake yesterday inside my house

And I will put enmity between thee and the woman, and between thy seed and her seed; it shall bruise thy head, and thou shalt bruise his heel. Genesis3:15.

what

wow,front page after 12 years of been a member of this great forum.oluwaseun open it 2005 we join 2008@sadc @tolbak @hopeeno @sen2020@esuola@sunnyojeagbase@emilomovilla to mention few.all in sucess digest development center ago palace way okota.we have address, not like few that come online abusing because they can be traced. once again, thanks to @ROYALROY the mod that push this post to front page after been here for 12years.for who ever that is reading this post,recover all you lost in 12years in the next three days IJN i pray.say amen if you believe,skip if you did not.

4four:
The money don entered voice mail, it is just like the money she dey borrowed you too

I pay her every kobo she borrowed me.that why I have confidence when she ask for the loan.note.she did not say give,because I have already given her what I can afford. she say borrow