FEDERAL GOVERNMENT RAISES EXCHANGE RATE FOR CARGO CLEARANCE TO N1,356/$
Written by Olakunle Oke on February 8, 2024
The Federal Government through the Central Bank of Nigeria has raised the exchange rate for cargo clearance from N952/$ to N1.356/$
This is coming weeks after the rate was increased from N783/$ to N952/$.
In November, the exchange rate for cargo clearance was raised from N757 per dollar to N783 per dollar, representing a 3.4 per cent increase, and was later raised from N783/$ to N952/$ in December.
However, journalists observed today that the new rate has been reflected on the portal of the Nigeria Customs Service.
Reacting to this, a member of the Association of Nigerian Licensed Customs Agents, Remilekun Sikiru, in a chat with journalists today, said the prices of goods and commodities will automatically increase , Importation would further decrease and depreciate and vehicle prices would skyrocket again.
Source: Jordan 105.5fm News bulletin
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