The Central Bank of Nigeria has officially named Candid Oil Services Limited as the pre-shipment inspection agent tasked with overseeing the nation’s oil exports. This directive was issued on July 1, 2026, through a formal notification signed by Aderinola Shonekan, the director of the bank’s Trade and Exchange Department.
Alongside this appointment, the Central Bank designated Taurus Oil and Gas Depot to serve as the associated terminal for the firm. The regulatory body emphasized that this selection adheres to the mandates set forth by the PIA Act of 1996.
In its official announcement, the bank informed several key stakeholders, including the Nigerian Customs Service, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian National Petroleum Corporation Limited, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and authorized dealer banks, that this measure is fully compliant with statutory requirements regarding oil exports.
