CBN reallocates oil, gas export terminals to eight...
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Daily Trust
Reported by Daily Trust
Tue, 3 Nov 2026, 08:15
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The Central Bank of Nigeria (CBN) has appointed eight pre-shipment inspection agents and two monitoring and evaluation companies to oversee crude oil and gas exports, introducing a fresh allocation of export terminals among the firms as part of efforts to strengthen supervision, accountability and transparency in the country’s petroleum export trade. The bank directed all relevant stakeholders to ensure compliance with the new arrangements, which change the companies responsible for inspecting export cargoes and the terminals assigned to each agent.
Context & Background
✦In July 2026, the CBN also appointed Candid Oil Services Ltd as an inspection agent for the Taurus Oil and Gas Depot.
Key Figures & Named Entities
2026:The appointments, which took effect from October 2, 2026, are being implemented under the Nigerian Export Supervision Scheme (NESS).2026:Details were contained in a circular dated October 29, 2026, with reference number TED/FEM/FPC/PUB/001/005, signed by Aderinola Shonekan, Director of the CBN’s Trade and Exchange Department.2024:In May 2024, the CBN appointed 11 agents, comprising nine pre-shipment inspection companies and two monitoring and evaluation firms.
Outlook & Next Steps
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Key Takeaways
Verified Extract
✦The Central Bank of Nigeria (CBN) has appointed eight pre-shipment inspection agents and two monitoring and evaluation companies to oversee crude oil and gas exports, introducing a fresh allocation of export terminals among the firms as part of efforts to strengthen supervision, accountability and transparency in the country’s petroleum export trade.
✦The bank directed all relevant stakeholders to ensure compliance with the new arrangements, which change the companies responsible for inspecting export cargoes and the terminals assigned to each agent.
✦In July 2026, the CBN also appointed Candid Oil Services Ltd as an inspection agent for the Taurus Oil and Gas Depot.
Key Facts:2026: The appointments, which took effect from October 2, 2026, are being implemented under the Nigerian Export Supervision Scheme (NESS).2026: Details were contained in a circular dated October 29, 2026, with reference number TED/FEM/FPC/PUB/001/005, signed by Aderinola Shonekan, Director of the CBN’s Trade and Exchange Department.2024: In May 2024, the CBN appointed 11 agents, comprising nine pre-shipment inspection companies and two monitoring and evaluation firms.2025: The allocation of export terminals was subsequently reviewed in March 2025.
Editorial Excerpt
The Central Bank of Nigeria (CBN) has appointed eight pre-shipment inspection agents and two monitoring and evaluation companies to oversee crude oil and gas...
Frequently Asked Questions About This Story
What is the latest development regarding Nigerian Upstream Petroleum Regulatory Commission?
The Central Bank of Nigeria (CBN) has appointed eight pre-shipment inspection agents and two monitoring and evaluation companies to oversee crude oil and gas exports, introducing a fresh allocation of export terminals among the firms as part of efforts to strengthen supervision, accountability and transparency in the country’s petroleum export trade.
Who are the key organizations or public figures mentioned?
The primary parties identified in this coverage include Nigerian Upstream Petroleum Regulatory Commission, Nigeria Customs Service, Nigerian Midstream and Downstream Petroleum Regulatory Authority.
What timeline or key figures were confirmed?
The appointments, which took effect from October 2, 2026, are being implemented under the Nigerian Export Supervision Scheme (NESS).
