Customs, CBN Strengthen Partnership To Implement Technology Driven Trade Reforms
By Asuquo Nuwak
Customs, CBN Strengthen Partnership To Implement Technology Driven
Trade Reforms
•••Cardoso pledges support in ensuring the B’Odogwu’s success, as the Service prepares to activate B’Odogwu in other commands
The Comptroller-General of Customs, Adewale Adeniyi, has reaffirmed the Service’s commitment to enhancing collaboration with the Central Bank of Nigeria, to facilitate trade and boost revenue generation, a development he said would benefit all Nigerians.
CGC Adeniyi, who disclosed this on Thursday, 27 February 2025, during a courtesy visit to the Central Bank of Nigeria, where he met with its governor, Olayemi Cardoso, also said the partnership is aimed at driving the full implementation of the B’Odogwu system, an indigenous trade facilitation platform developed by the Service to replace the existing Nigerian Integrated Customs Information System (NICIS) II.
CGC stated that the initiative is expected to modernise Customs operations, improve efficiency in trade documentation, and enhance revenue collection.
He stressed the importance of seamless integration between customs and financial institutions, particularly in automating foreign exchange transactions and trade related payments.
He noted 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.
CGC Adeniyi is quoted as saying that: “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”.
He called on the Central Bank to grant the necessary approvals for banks to integrate into the system to enable seamless transactions.
CGC Adeniyi also disclosed the bottlenecks in the current manual process in 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.
Cardoso is quoted as stating that: 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”.
At the end of the courtesy visit, Cardoso assured that the Central Bank would work towards ensuring compliance among commercial banks with directives to improve trade processes and enhance revenue collection efficiency.
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