CBN reshuffles oil export monitors, appoints eight inspection

The Central Bank of Nigeria (CBN) has overhauled the monitoring of Nigeria’s crude oil and gas exports, appointing eight pre-shipment inspection agents and two monitoring firms in a move that strengthens oversight of export cargoes and the process through which the country earns foreign exchange.

The appointments, which took effect on October 2, 2026, are under the Nigerian Export Supervision Scheme and involve the allocation of designated oil and gas terminals to the inspection companies, with separate firms assigned to monitor their activities.

The revised arrangement places the agents across major crude oil terminals and gas export facilities, making their responsibilities central to the documentation and verification of shipments before export.

In a notice signed by Aderinola Shonekan, Director of the CBN’s Trade and Exchange Department, the apex bank directed authorised dealer banks, the Nigeria Customs Service, petroleum regulators, terminal operators and oil and gas companies to comply with the new allocations.

Under the arrangement, Dakee Engineering and Construction Ltd. will cover LNG, Escravos (Gas), Bonny River Terminal and EGTL, while Trexem Energy Services Limited is assigned Egina, Qua-Iboe and Tulja.

Geoscape Limited will inspect Escravos, ERHA, Odudu and FSO Cawthorne, while 617 Limited is responsible for Bonga, Brass, Usan and Eagle.

Robinson International Energy Ltd. has been assigned Ugo-Cha, Penington, Aje, Ima, Oyo and Nembe. Trobell International Nigeria Limited will cover Forcados, Bonny and Okwori, while Integrated Shipping Services Nigeria Ltd. is responsible for Akpo, Antan, Okoro, Anyala-Madu and Ebok.

Kephren Business Ltd. will oversee Ukpokiti, Utapate, Yoho, Abo, Agbami, Ajapa, Okono and Okwok, as well as additional marginal streams designated by the Nigerian Upstream Petroleum Regulatory Commission.

To provide a separate layer of supervision, the CBN appointed Q&Q Control Services Ltd. to monitor 617 Limited, Trexem Energy Services, Geoscape and Kephren Business, while Arlington Securitas Nigeria Limited will oversee Dakee Engineering, Trobell International, Robinson International and Integrated Shipping Services.

The introduction of dedicated monitoring firms is significant because the effectiveness of export inspection depends not only on the appointment of agents but also on independent oversight of their performance and compliance with prescribed procedures.

For an economy heavily dependent on petroleum exports for foreign exchange, accurate cargo inspection and documentation are important to establishing the volume and value of shipments, supporting export proceeds monitoring and reducing the risk of discrepancies in trade records.

The appointments also come amid repeated adjustments to the country’s crude oil and gas export monitoring framework. In May 2024, the CBN appointed 11 pre-shipment inspection and monitoring agents under the scheme. The allocation of terminals was subsequently reviewed in March 2025, while Candid Oil Services Limited was appointed in July 2026 to inspect exports from the Taurus Oil and Gas Depot.

The latest changes therefore represent another revision of the institutional framework through which the CBN supervises petroleum exports.

The move comes as Nigeria seeks to strengthen foreign exchange inflows from its oil and gas sector. CBN data showed that gas export earnings rose to $2.53 billion in the first quarter of 2026, highlighting the sector’s contribution to the country’s external earnings.

However, higher export earnings must be supported by reliable measurement, transparent documentation and effective monitoring if the country is to maximise the foreign exchange value of its petroleum resources.

The success of the revised framework will ultimately depend on the ability of the inspection agents and their monitors to ensure credible export records, while improving coordination among the CBN, petroleum regulators, banks, customs authorities and industry operators.