Business

Nigeria Customs Set for Nationwide Activations of B’Odogwu System to Facilitate Trade

The B’Odogwu system is an indigenous trade facilitation platform developed by the NCS to replace the existing Nigerian Integrated Customs Information System (NICIS) II.

Published

1 year ago

March 3, 2025

OCHEFA

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The Comptroller-General of Nigeria Customs Service (NCS), Adewale Adeniyi, has said that the Service is prepared for the full implementation of the B’Odogwu system—an indigenous trade facilitation platform developed by the NCS to replace the existing Nigerian Integrated Customs Information System (NICIS) II.

CGC Adeniyi made this known recently during a courtesy visit to the Central Bank of Nigeria, where he met with its governor, Olayemi Cardoso.

“The initiative is expected to modernise Customs operations, improve efficiency in trade documentation, and enhance revenue collections,”said Adeniyi.

He emphasised the importance of seamless integration between Customs and financial institutions, particularly in automating foreign exchange transactions and trade-related payments.

He explained that the new system was introduced following the contract’s expiration with the previous service provider, which had been extended multiple times before the government entered a new concession agreement in 2023.

“We began piloting the B’Odogwu programme at the Port and Terminal Multi-services Limited (PTML) Area Command in Lagos and engaged all stakeholders, including the Central Bank. “

Three months into the pilot phase, we integrated key trade documentation processes such as Form M and Pre-Arrival Assessment Report (PAAR) but encountered initial challenges, particularly resistance from some of the Authorised Dealer Banks (ADBs),” Adeniyi noted.

He urged the Central Bank to grant the necessary approvals for banks to integrate into the system to enable seamless transactions.

Adeniyi also highlighted bottlenecks in the current manual process communicating prevailing exchange rate to the service by the apex bank for the purpose of duty collection.

He appreciated the Central Bank’s support and called for continued collaboration to ensure a smooth nationwide rollout of B’Odogwu.

In response, the Central Bank Governor, Olayemi Cardoso, commended the Customs Service for its innovative approach and pledged his support in ensuring the initiative’s success.

“I am pleased to see a new direction in Customs operations. Collaboration is key, and we will continue to work closely to ensure seamless integration. Our commitment is to provide the necessary support so that the banking sector aligns with this transition,” Cardoso said.

He assured that the Central Bank would work towards ensuring compliance among commercial banks with directives to improve trade processes and enhance revenue collection efficiency.

Related Topics:Featured NCS B’Odogwu system Trade facilitation

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Business

Meta set to charge WhatsApp Business messages from October 1

For example, a Nigerian fintech company sending 500,000 chargeable utility messages could incur about $5,050 in fees from Meta alone, excluding charges that may come from third-party providers or software platforms used to manage the messaging service.

Published

2 days ago

August 28, 2026

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Businesses using Meta’s WhatsApp Business Platform will begin paying for certain messages sent to customers from October 1, 2026, under a new pricing structure announced by the company.

The change applies to organisations that use the WhatsApp Business Platform, formerly known as the WhatsApp Business API, to manage customer communication on a large scale.

Regular WhatsApp users and small businesses using the standard WhatsApp Business app are not the main targets of the new charges.

Under the revised system, the amount businesses pay will depend on the type of message being sent.

Utility messages, including payment alerts, order confirmations and other service-related updates, will cost about $0.0101 per message, while marketing messages will attract a higher fee of approximately $0.062 each.

Although the individual charges appear relatively small, companies that send large volumes of messages could see their communication expenses rise significantly.

Business

Dangote Refinery Suspends Petrol Sales To Lagos Depots

Dangote Refinery is prioritising markets where imported products are either unavailable or less dominant, rather than adding more supply to Lagos, which receives substantial volumes of imported petrol.

Published

2 days ago

August 28, 2026

OCHEFA

22 Views

Dangote Petroleum Refinery has suspended coastal sales of Premium Motor Spirit (PMS) to depot owners and importers in Lagos.

People familiar with the refinery’s operations said that the move is deliberate, aimed at redirecting locally refined petrol to areas where imported supply is scarce.

The suspension is ongoing. A source said: “The suspension of coastal sales to Lagos is still ongoing. It is aimed at redirecting products to locations where imported products are unavailable. Lagos has quite some imported petrol.”

The strategy is intended to ensure locally refined petrol reaches areas where it is most needed.

The decision comes amid concerns at the refinery over the volume of imported petrol entering Nigeria.

According to data available to the refinery, imported PMS accounted for about 43 per cent of total petrol supplied into Nigeria in July

Business

Naira Exchange Rates Friday, August 28

Today, the Naira Black Market exchange rate for 1 Great British Pound (GBP) is 1900 Naira. This means that you can get 1900 Naira for every 1 Pound that you exchange.

How much is 100 pounds in naira today?
At the current black market rate of 1900 per pound, 100 British Pounds = 190,000 Naira.