The Comptroller-General of Customs (CGC), Mr. Adewale Adeniyi, emphasized the importance of seamless integration between Customs and banks to modernize trade-related payments.
During a visit to CBN Governor, Mr. Olayemi Cardoso, last Thursday, Adeniyi highlighted the ongoing implementation of the B’Odogwu system, an indigenous trade facilitation platform developed to replace the Nigerian Integrated Customs Information System (NICIS) II.
The B’Odogwu system aims to modernize Customs operations, streamline trade documentation, and enhance revenue collection.
The new system replaces the expired contract with a previous service provider, which had undergone multiple extensions before the government entered a new concession agreement in 2023.
Piloting of B’Odogwu began at the Port and Terminal Multi-services Limited (PTML) Area Command in Lagos, with stakeholder engagement, including the CBN.
Integration challenges arose, particularly due to resistance from some Authorized Dealer Banks (ADBs).
Mr. Adeniyi urged the CBN to approve the integration of commercial banks into the system to ensure seamless FX transactions.
He also pointed out bottlenecks in the current manual system for communicating exchange rates from the CBN to Customs for duty collection purposes.
NANS condemns incessant kidnapping of students, urges FG to rescue abducted Benue varsity students
In response, CBN Governor Olayemi Cardoso commended the NCS for its innovation and pledged full support for the successful rollout of B’Odogwu.
“I am pleased to see a new direction in Customs operations. Collaboration is key, and we will work closely to ensure seamless integration. Our commitment is to provide the necessary support so that the banking sector aligns with this transition,” Cardoso stated.
He assured that the CBN would enforce compliance among commercial banks to enhance trade processes and revenue collection efficiency.
The nationwide expansion of B’Odogwu is expected to streamline trade documentation, eliminate delays, and improve transparency in Nigeria’s trade sector.
