ABUJA, Nigeria (VOICE OF NAIJA)-The Central Bank of Nigeria has announced the assignment of two additional crude oil export terminals to Swede Control Intertek Limited, a pre-shipment inspection agent operating within Nigeria’s crude oil export monitoring framework.
The development was contained in a circular dated June 15, 2026, signed by the Director of the CBN’s Trade and Exchange Department, Aderinola Shonekan, and addressed to authorised dealer banks, the Nigeria Customs Service, petroleum sector regulators, terminal operators, oil and gas firms, and the general public.
According to the circular, the Federal Government approved the allocation of the Cawthorne Terminal and Okwok Terminal to Swede Control Intertek Limited.
The apex bank stated, “This is to notify all Authorised Dealer Banks, Nigeria Customs Service, Nigerian Upstream Petroleum Regulatory Commission, Nigerian National Petroleum Corporation Limited, Nigerian Midstream and Downstream Petroleum Regulatory Authority, all Terminal operators, all Oil and Gas Companies and the General Public of the Federal Government’s allocation of additional crude oil terminals to Swede Control Intertek Limited.”
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The circular indicated that the company, in its role as a pre-shipment inspection agent, would oversee activities at the two newly assigned terminals.
An accompanying table identified “Cawthorne Terminal” and “Okwok Terminal” as the additional terminals allocated to Swede Control Intertek Limited.
Pre-shipment inspection agents are integral to Nigeria’s crude oil export system, carrying out independent verification of export volumes and associated documentation before cargoes leave the country.
Their work helps strengthen export proceeds monitoring, revenue assurance, and compliance with foreign exchange regulations.
Copies of the circular were sent to major stakeholders across the oil and gas industry, including the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian National Petroleum Corporation Limited, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, terminal operators, and oil companies.
The CBN directed all stakeholders to adhere to the new allocation arrangement.
“Please note and ensure compliance,” the CBN said.
The latest allocation forms part of ongoing efforts by the Federal Government and regulatory agencies to improve transparency and accountability in crude oil exports, which remain Nigeria’s largest source of foreign exchange earnings and a significant contributor to public revenue.
In March 2026, the House of Representatives Ad-hoc Committee investigating Pre-Shipment Inspection of Exports and the Non-Remittance of Crude Oil Proceeds directed the Nigeria Customs Service, Central Bank of Nigeria, Nigerian Ports Authority, and the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture to submit detailed documentation outlining their respective roles in pre-shipment inspection processes.
The investigation followed a House resolution to examine alleged shortcomings in the pre-shipment inspection regime and persistent concerns over the non-remittance or under-remittance of crude oil export proceeds to the Federation Account.
Lawmakers had raised concerns about revenue leakages in both oil and non-oil exports, leading to the establishment of the ad-hoc committee to assess the responsibilities of relevant agencies and identify accountability gaps within the export value chain.