The Central Bank of Nigeria has named Candid Oil Services Limited to serve as the pre-shipment inspection agent for the country's crude oil exports. The apex bank made the announcement through a notice issued on July 1, 2026, signed by Aderinola Shonekan, the CBN's director of trade and exchange.
Taurus Oil and Gas Depot will function as the designated terminal for the newly appointed inspection agent. The CBN said the move aligns with requirements under the Pre-shipment Inspection Act of 1996.
The central bank's notice reached authorized dealer banks, the Nigerian Customs Service, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian National Petroleum Corporation Limited, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority. Terminal operators, oil and gas firms, and the broader public also received notification of the appointment.
In its statement, the CBN confirmed that the Federal Government approved Candid Oil Services to operate in this capacity under the PIA Act framework. The notice emphasized the company's responsibility for conducting pre-shipment inspections on all crude oil destined for export markets.
The appointment represents a significant development in Nigeria's oil export operations. It establishes a formal mechanism for quality assurance and regulatory compliance in the country's petroleum sector.
