Revealed! Importers to pay less as Customs eliminates cost of collection, other fees

• The Nigeria Customs Service plans to destruct the 7% Cost of Collection and 1% Comprehensive Import Supervision Scheme (CISS) fees by reintroducing a 4% Free connected Board (FOB) fee
• At a caller municipality hallway meeting, stakeholders commended the adoption of the B'Odogwu platform, an indigenous Unified Customs Management System, for enhancing commercialized compliance
• Despite immoderate operational challenges, the level has improved stakeholder enactment and simplified customs processes, according to manufacture representatives

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The Nigeria Customs Service intends to destruct the 7% Cost of Collection and 1% Comprehensive Import Supervision Scheme (CISS) aft reintroducing a 4% Free connected Board (FOB) fee, which could effect successful little work payments for Nigerian importers.

The NCS plans to destruct the 7% Cost of Collection and 1% Comprehensive Import Supervision Scheme (CISS) fees. Photo Credit: Contributor
Source: Getty Images

At a municipality hallway gathering with stakeholders connected the B'Odogwu clearing level connected Monday successful Lagos, the taxable was "Enhancing commercialized compliance and strategy optimisation done stakeholders' engagement," which was sponsored by the NCS. The Comptroller-General of Customs, Adewale Adeniyi, made this statement.

According to a February 2025 nonfiction successful The PUNCH, the NCS declared that a 4 percent interest would beryllium applied to the imports' free-on-board value.

In a connection announcing this, the service's spokesperson, Abdullahi Maiwada, clarified that the directive complied with the Nigeria Customs Service Act (NCSA) 2023.

“In enactment with the provisions of Section 18 (1) of NCSA 2023, the NCS is implementing a 4 percent complaint connected the Free On-Board (FOB) worth of imports. The FOB charge, which is calculated based connected the worth of imported goods, including the outgo of goods and transportation expenses incurred up to the larboard of loading, is indispensable for driving the effectual cognition of the service.“Furthermore, the NCS acknowledges concerns raised by stakeholders implicit the sustained postulation of the 1 percent Comprehensive Import Supervision Scheme fee,” helium said.

Furthermore, this comes weeks aft the NCS halted the charge's instauration owed to beardown stakeholder protest. Nevertheless, Adeniyi provided an update connected the fee, stating that the instrumentality of the 4% FOB would hitch retired the 1 percent CISS and the 7 percent Cost of Collection, which are besides being charged.

Stakeholders commend customs

In a akin development, stakeholders operating successful the nation’s maritime industry, including banks, freight forwarders, and different agencies, person complemented the absorption of the Nigeria Customs Service for adopting B’Odogwu, an indigenous Unified Customs Management System.

These stakeholders made this connection connected Monday successful Lagos astatine a municipality hallway gathering with stakeholders connected the B'Odogwu clearing platform, which was organized by the NCS and had arsenic its taxable "Enhancing commercialized compliance and strategy optimisation done stakeholders' engagement."

The migration from the aged level to B'Odogwu, the banks' inability to marque changes connected the platform, and the Harmonised System Code classification betwixt the Standards Organisation of Nigeria and the National Agency for Food and Drug Administration and Control are conscionable a fewer of the issues mentioned by these stakeholders portion praising the platform's service.

Speaking astatine the event, Olusina Ogunlesi, the Factory Logistics Manager astatine British American Tobacco, clarified that the magnitude of stakeholder enactment has accrued nether the B'Odogwu platform, successful opposition to what was achieved nether the erstwhile one.

Stakeholders successful maritime manufacture complemented the absorption of the Nigeria Customs Service for adopting B’Odogwu. Photo Credit: Contributor
Source: UGC

“Customs engagements with stakeholders person been top-notch nether this caller platform. The large situation with the erstwhile level was that it wasn’t user-friendly. During the erstwhile platform, determination was ever 1 situation oregon the different coupled with predominant web challenges. But this caller level has addressed immoderate of these challenges,” helium said.

Onyeji Frances, the caput of the Standard Organisation of Nigeria's Conformity Assessment Program successful Lagos, stated that the caller level has improved SONCAP transmission, portion encouraging the work to code immoderate of its shortcomings.

CBN crashes import dollar complaint

Legit.ng reported that a caller Customs import work rate, released by the Central Bank of Nigeria (CBN), shows that importers volition pay the aforesaid complaint as the latest authoritative overseas speech rate.

This is arsenic the Nigerian currency rebounded successful the FX marketplace aft a one-day loss.

According to information from the authoritative authorities commercialized portal, the apex slope fixed the import work complaint astatine N1,520.249, the aforesaid complaint arsenic the authoritative speech rate, from N1,528 per dollar.

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Source: Legit.ng