Recently, the Nigerian Customs Service reviewed duties once more, setting rates slightly above the official closing rate at the NAFEM window. According to the Customs exchange rate portal, the future collection FX rate stands at N1584/$1. Meanwhile, the naira closed at the official rate of N1581/$1 on July 17, 2024, as reported by FMDQ data. This marks the highest customs rate since March 2024, when the naira depreciated, nearly touching N1600/$1.
