forex transactions
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Nigeria New Regulation Requires Bank Customers to Present 3-Year Tax Clearance for Dollar Purchases Starting April 1
Nigerian banks have implemented a new requirement for customers seeking forex transactions through Form A, demanding the submission of the last three years' tax clearance certificates (TCC). Standard Chartered Bank notified its customers via email, confirming this mandate effective from April 1... -
Nigeria Travel, Medicals, and School Fees: CBN Sets New Limits on Forex Transactions
The Central Bank of Nigeria (CBN) has instituted new regulations governing the foreign exchange (FX) sales by Bureau De Change (BDC) operators, as outlined in the 'Revised Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria,' released on February 23, 2024. These... -
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Business CBN Bars 8 Banks From All Forex Transactions [See LIST]
The Central Bank of Nigeria (CBN) has barred eight banks from all foreign exchange transactions for breach of extant financial regulations . Thisday, exclusively gathered that they were barred for concealing and failing to remit the Nigerian National Petroleum Corporation (NNPC) dollar funds to...- ProfRem
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