
Central Bank of Nigeria, Trade & Exchange Department
Repatriation of Export Proceeds (Oil and Non-Oil)
- Author
- Central Bank of Nigeria, Trade & Exchange Department
- Year
- 2015
- Pages
- 2 pages
This directive requires authorized dealers to ensure that oil export proceeds are repatriated into exporters’ domiciliary accounts within 90 days and non-oil export proceeds within 180 days. Failure may expose the collecting bank to a fine of 10% of the transaction’s FOB value and other…