February 25, 2024/CBN Following the liberalization of the FX market on Willing Buyer — Willing Seller trading principle, the Central Bank of Nigeria has noted the concerns of Importers of goods and services in the irregular changes in the Import Duty Assessment levies applied by the Nigeria Custom service. These […]
Money Market
CBN Unveils Exposure Draft of Its Revised Regulatory and Supervisory Guidelines for BDC Operations in Nigeria
February 24, 2024/CBN Pursuant to the powers conferred under Section 56 of the Banks and Other Financial Institutions Act, 2020 (BOFIA), the Central Bank of Nigeria (CBN) hereby issues this draft revised Regulatory and Supervisory Guidelines for Bureau de Change (BDC) Operations in Nigeria for stakeholder comments and/or inputs. The […]
CBN Unveils New Requirements for Forex Cash Pooling on Behalf of IOCs in Nigeria
February 15, 2024/CBN The Central Bank of Nigeria (CBN) has observed that proceeds of crude oil exports by International Oil Companies (lOCs) operating in Nigeria, are transferred offshore to fund parent accounts of the IOCs (otherwise referred to as “cash pooling’). This has an impact on liquidity in the domestic […]
