The Centre for the Promotion of Private Enterprise (CPPE) has appealed to the Central Bank of Nigeria (CBN) to adopt a quarterly customs duty exchange rate to check high volatility in cargo clearing costs occasioned by the recent frequent changes in the rate.
The Centre for the Promotion of Private Enterprise has appealed to the Central Bank of Nigeria to adopt a quarterly customs duty exchange rate to check high volatility in cargo clearing costs occasioned by the recent frequent changes in the rate.
“In the first quarter of this year, there were changes in the customs duty exchange rate twenty-eight times. In April, the frequency of changes would be close to ten times or even more. As at 1st May 2024, the rate has jumped to N1373.65/$. It was less than N1200/$ few days before.
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