2024-08-08 | TED/FEM/PUB/FPC/001/025

Circular on Memorandum 20 - 22 of the Foreign Exchange Manual

The Central Bank of Nigeria's Trade and Exchange Department issues a circular clarifying that the Foreign Exchange Manual's Memorandum 20, section 2 (vi) applies to both divestments and repatriations of CCI-related transactions. The bank instructs that all divestments or repatriations of foreign investments must present an electronic Certificate of Capital Importation and evidence of redemption of investment in local currency assets. This directive is intended to guide authorized dealer banks and the general public in Nigeria.

Nigeria

Central Bank of Nigeria

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