Business News of Wednesday, 25 June 2025
Source: www.vanguardngr.com
In a move to boost trade efficiency in Nigeria, the Nigeria Customs Service (NCS) has integrated the Central Bank of Nigeria (CBN), the Federal Ministry of Finance, the Federal Inland Revenue Service (FIRS), and other key stakeholders in the trade value chain of B’Odogwu platform.
The B’Odogwu platform is a newly introduced digital trade facilitation and integration system developed by the Nigeria Customs Service (NCS) to streamline and harmonize the country’s international trade processes.
Designed as a centralized platform, B’Odogwu connects key government agencies connected to the Federal Government’s finances and others with Customs systems to enable real-time data sharing, faster decision-making, and seamless clearance of goods.
The platform is aimed at reducing bureaucratic bottlenecks, increasing transparency, and enhancing compliance through automation and inter-agency collaboration. It aligns with global best practices in single-window trade facilitation and supports Nigeria’s drive toward a more efficient, digitized, and investor-friendly trade environment.
Meanwhile, the Customs Area Controller of the Tin-Can Island Command, Comptroller Frank Onyeka, has disclosed that over 90 percent of the initial challenges associated with the integration of B’Odogwu platform with stakeholders have been resolved.
He added that the introduction of the platform has significantly reduced the incidence of demurrage previously experienced by importers, thereby improving cargo clearance.
Also commenting on the development, Assistant Comptroller of Customs in charge of Information and Communication Technology (ICT) at the Port and Terminal Multi-services Limited (PTML) Command, Oyindamola Oladapo, stated that the integration of the CBN, commercial banks, and other stakeholders in the trade value chain is aimed at ensuring seamless operations on a unified platform.
Oladapo further revealed that most banks have already been connected to the platform, with discussions ongoing to bring all remaining banks on board.
Other stakeholders already integrated into the Nigeria Customs Service’s unified platform include the Standards Organisation of Nigeria (SON), the National Insurance Commission (NAICOM), Port Health Services, the National Agency for Food and Drug Administration and Control (NAFDAC), and the National Environmental Standards and Regulations Enforcement Agency (NESREA).