Yemisi Izuora
The Central Bank of Nigeria (CBN) has provided information regarding Federal Government’s approval for the allocation of two additional crude oil export terminals to Swede Control Intertek Limited, a pre-shipment inspection agent involved in Nigeria’s crude oil export monitoring framework.
The information was contained in a circular dated June 15, 2026, issued by the Director of the CBN’s Trade and Exchange Department, Aderinola Shonekan, and addressed to authorised dealer banks, the Nigeria Customs Service, key petroleum sector regulators, terminal operators, oil and gas companies, 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 CBN 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.”
The circular showed that the company, which serves as a pre-shipment inspection agent, was assigned oversight responsibilities at the two newly allocated terminals.
A table attached to the circular listed “Cawthorne Terminal” and “Okwok Terminal” as the new terminals allocated to Swede Control Intertek Limited.
Pre-shipment inspection agents play a key role in Nigeria’s crude oil export process by independently verifying export volumes and related documentation before shipments leave the country.
Their activities support export proceeds monitoring, revenue assurance and compliance with foreign exchange regulations.
The circular was copied to major stakeholders across the oil and gas value chain, 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 apex bank directed all stakeholders to comply with the new allocation arrangement.
“Please note and ensure compliance,” the CBN said.
The latest allocation comes amid ongoing efforts by the Federal Government and regulatory agencies to strengthen transparency and accountability in crude oil exports, which remain Nigeria’s largest source of foreign exchange earnings and a major contributor to government revenue.