
Central Bank of Nigeria
Sales of Foreign Currency Proceeds of International Money Transfer to Bureaux De Change Operators
- Author
- Central Bank of Nigeria
- Reference No.
- TED/FEM/FPC/GEN/01/004
- Year
- 2016
- Pages
- 2 pages
This circular directs authorized dealer banks acting for approved international money transfer operators to sell foreign currency proceeds from inward remittances to licensed bureaux de change operators. It requires retail transactions to comply with anti-money laundering laws and KYC principles, including BVN use, and mandates…