Regulatory Alerts2007-03-23 | TED-FEM-GEN-FPC-01-39-07Workshop On Letters of Credit Standardisation
The Central Bank of Nigeria is organizing a one-day workshop on Letter of Credit standardization in collaboration with the International Chambers of Commerce, Nigeria. This workshop will occur on April 3rd, 2007 at the Protea Hotel in Lekki and is aimed to ensure that all Letters of Credit issued by Nigerian banks comply with domestic regulations as well as the new Uniform Customs and Practice (UCP600) effective from July 1st, 2007. The workshop fee is N30,000.00, payable to the Central Bank of Nigeria, and should include lunch, workshop materials etc. All authorized dealers are requested to send two representatives with a bank draft for the workshop fee by March 27th, 2007, along with samples of their Letter of Credit formats. The event is overseen by the Director of Trade & Exchange Department.