Federal Government Allocates Additional Crude Oil Terminals to Swede Control Intertek Limited
The Central Bank of Nigeria (CBN) has released a new regulatory circular expanding the jurisdiction of designated Pre-Shipment Inspection Agents (PIAs) within Nigeria’s oil and gas export framework. Dated June 15, 2026 (Ref: TED/FEM/FPC/PUB/001/003), the circular announces the Federal Government’s allocation of two additional crude oil export terminals to Swede Control Intertek Limited. This update introduces critical compliance demands for upstream oil and gas companies, terminal operators, and international trade desks operating within these corridors.
Summary of the Circular
Issued by the CBN’s Trade and Exchange Department, the directive legally designates Swede Control Intertek Limited to handle all pre-shipment inspection activities at the following newly allocated locations (a) Cawthorne Terminal; and (b) Okwok Terminal.
This circular reinforces the Federal Government's ongoing structural changes to boost transparency, curb revenue leakages, and enforce accurate export proceeds monitoring across the nation's maritime terminals.
Impact on Key Stakeholders
1. Oil and Gas Exporters: Upstream companies exporting crude oil from Cawthorne and Okwok terminals may need to update their operational workflows to ensure that all physical inspections, quality assessments, and quantity verifications must be routed strictly through Swede Control Intertek Limited.
2. Authorised Dealer Banks: Commercial and merchant banks processing trade documentation (such as Form NXP) cannot accept other independent evaluation reports or issue letters of credit unless supported by a Clean Certificate of Inspection (CCI) signed off by the newly allocated agent.
3. Terminal Operators and Regulators: The Nigeria Customs Service, NUPRC, NMDPRA, and NNPCL are directed to ensure that only documentation issued by the legally mandated inspection agent is honored for port clearance and cargo approval.
Key Takeway
Failure to pivot to the newly assigned inspection agent risks serious cargo delays, severe demurrage fees, or total regulatory rejection of export documentation by regulators.
Our Energy & Natural Resources practice group advises oil and gas operators, financial institutions, and trading desks on complex regulatory shifts and cross-border trade compliance under Nigerian law. For legal guidance regarding how this terminal restructuring affects your ongoing oil export transactions, contact our regulatory team via support@balogunharold.com
Olu A.
LL.B. (UNILAG), B.L. (Nigeria), LL.M. (UNILAG), LL.M. (Reading, U.K.)
Olu is a Partner in the Firm’s Transactions & Policy Practice. Admitted as a Barrister & Solicitor of the Supreme Court of Nigeria in 2009, he has spent over a decade advising clients on high-value transactions and policy matters at some of Nigeria’s leading law firms.
olu@balogunharold.com
Kunle A.
LL.B. (UNILAG), B.L. (Nigeria), LL.M. (UNILAG), Barrister & Solicitor (Manitoba)
Kunle is a Partner in the Firm’s Transactions & Policy Practice. Admitted as a Barrister & Solicitor of the Supreme Court of Nigeria in 2009, he has spent over a decade advising clients on high-value transactions and policy matters at some of Nigeria’s leading law firms.
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