The Central Bank policy restricting sales of foreign exchange to importers in about forty-one products may have reduced the revenue generation of the Nigeria Customs Service at the nation’s ports.
The Area Controller of Apapa Customs, Mr. Charles Edike, disclosed that the Command collected the sum of N23.8 billion in September as against the sum of N30.4 bn the command collected during the same period last year.

The shortfall was put at % loss of revenue
Edike who met with stakeholders said this was as a result of fall in importation, also caused by the CBN policy on forex.
According to him, “Since the CBN policy was rolled out, for the first three months, the remnant that came in were the ones we have been clearing but the remnant is now dwindling, finishing and so that explains why this month may not be as rosy as the previous month was.
“We also know that so many containers are trapped in the port. This month is not too rosy as at now and we all know the reason.
“The trend is not moving as it ought to move and importation is very low and that is the major reason because we only collect duty on things imported but when there is no importation, we cannot collect revenue.”
The controller offer to assist importers whose goods were trapped at the port due to the implementation of the CBN forex.