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.
09 616 37 804 09 616 37 802 Central Bank of Nigeria Central Business District P.M.B. 0187 Garki, Abuja E-mail: ted@cenbank.org
Our Ref: TED/FEM/GEN/FPC/01/037/07 March 22, 2007 TO: ALL AUTHORISED DEALERS WORKSHOP ON LETTERS OF CREDIT STANDARDISATION On 1st July 2007, the new Uniform Customs and Practice (UCP600) would become operational worldwide. In realization of the commencement date and noting the provisions of Article 1 of the said UCP600, it has become necessary to ensure that all Letters of Credit issued by Nigerian banks comply with the subsisting domestic regulations. Accordingly, the Central Bank of Nigeria in collaboration with the International Chambers of Commerce, (ICC Nigeria), is organizing a oneday workshop aimed at standardising all letters of credit formats.
The workshop will take place on 3rd April, 2007 at the Protea Hotel, Oakwood Lekki by 9.00 am. The workshop fee is N30,000.00 (Thirty Thousand Naira only) which will cover Lunch, Workshop materials etc. The bank draft for the Workshop fee should be in favour of "Central Bank of Nigeria" All Authorized Dealers are hereby invited to send not less than (2) two officers to participate in the Workshop In addition, Authorized Dealers are to forward samples of all their Letter of Credit formats. All nominations together with the bank draft for the Workshop fee should be forwarded to the Senior Manager, Policy Monitoring Office, Trade & Exchange Department, Lagos not later than 27th March, 2007.
O. O. AKANJI (MRS) DIRECTOR TRADE & EXCHANGE DEPARTMENT