Customs' B'Odogwu Revenue Platform To Facilitate Easier Transactions As It Integrates 25 Banks

• The Nigeria Customs Service (NCS) has integrated 25 banks into its Indigenous payment and clearing platform
• The platform, called B’Odogwu, was launched to modernise customs processes and enhance national revenue generation
• The Customs revealed that the platform has diversified shipments, boosted trade and introduced new revenue streams

Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the Stock Market.

The Port Terminal Multiservices Limited (PTML) Command of the Nigeria Customs Service (NCS) has announced plans to incorporate 25 banks into its local payment and clearing platform, B’Odogwu.

This move aims to resolve transaction delays for agents and tackle initial challenges with the trade portal.

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Customs links banks to ease port transactions

Speaking to journalists recently, the Customs Area Controller, Tenny Daniyan, highlighted the platform's importance and the obstacles encountered since its introduction on October 23, 2024.

He explained that the shift from Webb Fontaine’s Nigeria Integrated Customs Information System (NISIS) to the B’Odogwu platform has come with its challenges.

Daniyan noted that Webb Fontaine’s decision to disconnect PTML from NISIS caused disruptions for agents, prompting the command to accelerate the deployment of B’Odogwu.

He emphasised that the introduction of B’Odogwu marks a significant step forward in modernising customs processes and enhancing national revenue generation.

Daniyan said:

“We have engaged extensively with banks, and many have resolved their internal processes. By tomorrow, we expect seamless operations involving 25 banks.”

Daniyan highlighted the B’Odogwu platform’s transformative effect, revealing over N44 billion in revenue in October 2024, with higher figures recorded in early November.

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According to The Guardian, the platform has diversified shipments, boosted trade with regions like China, and introduced new revenue streams.

Its rollout began on October 30, with initial transactions of N2.5 billion and N3.03 billion.

Daniyan noted that the system’s efficiency has attracted more traders and importers to the PTML terminal despite the Central Bank of Nigeria's frequent adjustments of forex rates for cargo clearance in Nigeria’s air and seaports.

Nigerian port receives world’s largest container vessel

Meanwhile, Legit.ng earlier reported that APM Terminals in Apapa, Lagos, welcomed EA Centaurus, the largest vessel to dock at the port.

The vessel, owned by COSCO Shipping Lines, has 7,000 twenty-foot equivalent units (TEUs), measuring 272 metres in length, 43 metres in width, and has a 14.3-metre draft.

The vessel beats the 6,606 TEU container ship, the Kota Cantik, another Singaporean vessel, which arrived at the Apapa Wharf in 2023.