CBN and Customs Deepen Partnership for Technology-Driven Trade Reforms
Kathy Kyari
With the support of the Central Bank of Nigeria (CBN), the Nigeria Customs Service (NCS) is intensifying its efforts to modernise trade operations using a domestic solution.
During a courtesy visit to CBN Governor Olayemi Cardoso on Thursday, February 27, 2025, Comptroller-General of Customs Adewale Adeniyi reiterated this position.
The main goal of the conference was to improve income generation and trade facilitation by fortifying cooperation between the two entities
Adeniyi emphasised that the Nigerian Integrated Customs Information System (NICIS) II will be replaced by the B'Odogwu system, an indigenous trade facilitation platform. "It is anticipated that the initiative will modernise Customs operations, increase revenue collection, and improve trade documentation efficiency," he said.
He underlined the necessity of seamless integration between Customs and financial institutions, particularly in automating foreign exchange transactions and trade-related payments.
The transition to B’Odogwu followed the expiration of a long-standing contract with the previous service provider, which had been extended multiple times before a new concession agreement was signed in 2023.
According to Adeniyi, the pilot phase of B’Odogwu started at the Port and Terminal Multi-Services Limited (PTML) Area Command in Lagos, with key trade documentation processes such as Form M and the Pre-Arrival Assessment Report (PAAR) already integrated. However, he pointed out challenges, particularly resistance from some Authorised Dealer Banks (ADBs).
“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),” he noted.
Adeniyi called on the CBN to grant necessary approvals for banks to fully integrate into the system, ensuring smooth transactions. He also raised concerns about bottlenecks in the current manual process of receiving exchange rate updates from the apex bank for duty collection.
In response, Cardoso commended the Customs Service for its innovation and pledged the CBN’s support in making the transition successful.
“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 further assured that the CBN would ensure commercial banks comply with directives aimed at improving trade processes and enhancing revenue collection.
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