Customs and CBN Strengthen Partnership to Drive Technology-Driven Trade Reforms
The Nigeria Customs Service (NCS) is intensifying its collaboration with the Central Bank of Nigeria (CBN) to implement technology-driven reforms aimed at enhancing trade facilitation and boosting revenue generation. This partnership, according to the Comptroller-General of Customs, Adewale Adeniyi, is set to significantly benefit Nigerians by modernizing customs operations.
Adeniyi made the announcement on Thursday, 27 February 2025, during a courtesy visit to the CBN, where he met with the CBN Governor, Olayemi Cardoso. The focus of the discussion was on the full implementation of the B’Odogwu system, an indigenous trade facilitation platform developed by the NCS to replace the outdated Nigerian Integrated Customs Information System (NICIS) II.
"The B’Odogwu initiative is designed to modernize Customs operations, improve trade documentation processes, and enhance revenue collection," Adeniyi explained. He emphasized the need for seamless integration between the Customs Service and financial institutions, particularly in automating foreign exchange transactions and other trade-related payments.
The B’Odogwu platform was introduced after the contract with the previous service provider expired and a new concession agreement was signed in 2023. Adeniyi shared that the system had been piloted at the Port and Terminal Multi-services Limited (PTML) Area Command in Lagos, where stakeholders, including the CBN, were engaged. While the pilot phase showed progress with the integration of key trade documentation such as Form M and the Pre-Arrival Assessment Report (PAAR), there were challenges, particularly resistance from some Authorised Dealer Banks (ADBs).
To overcome these hurdles, Adeniyi called on the CBN to expedite approvals for banks to integrate into the B’Odogwu system, ensuring smoother transactions. He also addressed issues related to the manual process of obtaining exchange rates from the CBN for duty collection, highlighting the need for further collaboration to streamline this aspect.
CBN Governor Olayemi Cardoso responded positively, commending the NCS for its innovative approach. He expressed the bank’s commitment to supporting the initiative, emphasizing the importance of collaboration for a successful transition. "We will continue to work closely with the NCS to ensure that all stakeholders are aligned with the new system," Cardoso said.
He also assured that the CBN would take the necessary steps to ensure commercial banks comply with directives that aim to improve trade processes and enhance revenue collection.
The NCS is now preparing to expand the B’Odogwu system to other commands across the country, marking a significant step towards digitalizing Nigeria’s trade facilitation processes.
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