The Central Bank of Nigeria (CBN) has allocated two additional crude oil export terminals to Swede Control Intertek Limited, a pre-shipment inspection agent, as part of the Federal Government’s efforts to strengthen oversight of crude oil exports.

In a circular dated June 15, 2026, signed by Aderinola Shonekan, director of the Trade and Exchange Department, the apex bank notified authorised dealer banks, the Nigeria Customs Service, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian National Petroleum Company Limited (NNPCL), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), terminal operators, oil and gas companies and the general public of the new allocation.

The circular, titled “Additional Crude Oil Terminal for Allocation to Pre-Shipment Inspection Agent (PIA): Swede Control Intertek Limited,” said the Federal Government had approved the allocation of two additional terminals to the company.

According to the CBN, “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, as detailed below.”

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The circular showed that the newly allocated terminals are Cawthorne Terminal and Okwok Terminal, both assigned to Swede Control Intertek Limited for pre-shipment inspection activities.

The allocation expands the company’s role in the government’s crude oil export monitoring framework, under which accredited inspection agents verify export cargoes and related documentation before shipment.

The CBN directed all stakeholders to comply with the new arrangement, stating: “Please note and ensure compliance.”

The notification was copied to key agencies and participants across Nigeria’s crude oil export value chain as part of efforts to ensure seamless implementation of the directive.

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Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.

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