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Central Bank of Nigeria

Sales of Foreign Currency Proceeds of International Money Transfer to Bureaux De Change Operators

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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…

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