BREAKING: CBN Hikes Exchange Rate For Cargo Clearance

Once again, the Central Bank of Nigeria, acting on behalf of the Federal Government, has adjusted the exchange rate for cargo clearance, setting it at N1,605 per dollar.

This adjustment follows recent fluctuations in the exchange rate, which saw it rise to N1,515 per dollar before dropping to N1,472. Since January, there have been several adjustments in the exchange rate, starting from N952 per dollar in December, then increasing to N1,356 per dollar.

Subsequently, it was raised to N1,413 per dollar, then to N1,444 per dollar, and finally to N1,515 per dollar before reaching the current rate of N1,605 per dollar.

A visit to the Nigeria Customs Service portal on Wednesday confirmed the reflection of the new exchange rate.