2006-10-12 | TED-AD-140-2006

Outstanding Pre-shipment Inspection Transactions

The Central Bank of Nigeria reminds all Authorized Dealers to complete their outstanding Bill for Collection transactions under the Pre-Shipment Inspection scheme by 31st December 2006. To facilitate this, Forms 'M' validity can be extended by 90 days without requiring CBN approval. However, any uncompleted transactions beyond this deadline will not be eligible for remittance through Nigeria's Foreign Exchange Market. Authorized Dealers must also report all PSI transactions monthly in the provided format.

Nigeria

Central Bank of Nigeria

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