
Central Bank of Nigeria
Destination Payment for All Forms M, Letters of Credit and Other Forms of Payment
- Author
- Central Bank of Nigeria
- Reference No.
- TED/FEM/FPC/GEN/01/005
- Year
- 2020
- Pages
- 1 page
The Central Bank of Nigeria directs authorised dealers to stop opening Forms M when payments are routed through buying companies, agents, or other third parties, requiring payment in favour of the ultimate supplier. The directive also introduces a Product Price Verification Mechanism requiring quoted prices…