FG hikes exchange rate for cargo clearance to N951/$

Nigeria’s Federal Government has hiked the exchange rate for cargo clearance from N783/$ to N952/$.

The development, announced by the Central Bank of Nigeria, is coming barely three weeks after the rate was increased from N757/$ to N783/$.

Earlier in November, that the exchange rate for cargo clearance was raised from N757 per dollar to N783 per dollar, representing a 3.4 per cent increase.

However, it was observed on Thursday that the new rate has reflected on the portal of the Nigeria Customs Service.