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Headline : CPPE decries volatility of Customs duty exchange rate

Read more from the original article on here at www.ripplesnigeria.com.






Tags : #cppe #decries #volatility #customs #duty #exchange #rate


No. of Paragraph 47

The Center for Promotion of Private Enterprises (CPPE) has decried the volatility and frequent movement of the Nigeria Customs Service (NCS) duty exchange rates.

The Service had earlier on Wednesday adjusted the foreign exchange (FX) rate for import duties to N1, 373.64 per dollar.

This represents a 19.4 percent increase compared to N1, 150.1/$ announced by the service on April 24.

The Chief Executive Officer of CPPE, Dr. Muda Yusuf, who reacted to the development in a statement, urged the Central Bank of Nigeria (CBN) to adopt a framework to minimize volatility in the Customs duty exchange rate in line with the commitment of the present administration to bolster investors’ confidence and drive economic growth.

Read more from the original article on here at www.ripplesnigeria.com.


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