The Central Bank of Nigeria (CBN) has announced the allocation of two additional crude oil export terminals to Swede Control Intertek Limited, expanding the firm’s oversight within the nation’s crude oil export monitoring framework.
The move, disclosed in a circular dated June 15, 2026, grants the pre-shipment inspection agent responsibility for the Cawthorne and Okwok terminals.
The circular, signed by Aderinola Shonekan, Director of the CBN’s Trade and Exchange Department, was addressed to authorized dealer banks, the Nigeria Customs Service, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the NNPC Limited, and other key stakeholders in the petroleum sector.
“This is to notify all stakeholders of the Federal Government’s allocation of additional crude oil terminals to Swede Control Intertek Limited,” the apex bank stated, directing immediate compliance with the new arrangement.
Pre-shipment inspection agents are critical to Nigeria’s oil economy. They are tasked with independently verifying export volumes and documentation before shipments depart, ensuring revenue assurance and compliance with foreign exchange regulations.
This latest allocation comes as the Federal Government intensifies efforts to enhance transparency in the oil sector, which remains Nigeria’s primary source of foreign exchange.
By strengthening the monitoring framework at the Cawthorne and Okwok terminals, the CBN aims to bolster oversight and ensure that all export proceeds are accurately accounted for in the national treasury.
