Regulatory Alerts2007-07-10 | TED-FEM-FPC-GEN-01-83-07Rendition of Returns by Bureaux De Change Companies Through eFASS
The Central Bank of Nigeria has instructed Bureaux de Change companies to submit their monthly returns via eFASS, effective from July 2007 returns due in August. Current methods of submitting returns on diskette and hard copies will no longer be accepted. Additionally, newly registered BDCs must use eFASS for participation in direct foreign exchange cash sales alongside existing requirements.
Central Bank of Nigeria Central Business District P.M.B. 0187 Garki, Abuja Tel: 09 616 37 804 Fax: 09 616 37 802 E-mail address:ted@cenbank.org TED/FEM/FPC/GEN/01/082 July 10, 2007 TO: All Bureaux de Change Companies RENDITION OF RETURNS BY BUREAUX DE CHANGE COMPANIES THROUGH eFASS Bureaux de Change Companies (BDCs) are hereby directed to commence rendition of their monthly returns via eFASS, with effect from July 2007 returns, which shall be due in August 2007.
For the avoidance of doubt, the rendition of returns on Formats MTR315, MTR202, DTR217 and MTR305 by BDCs are to be done electronically using eFASS, thus, bringing to an end the current practice of making returns in diskette and hard copies. In addition, the capability of any newly registered BDC to render returns via eFASS is now mandatory for the participation of the company in the direct foreign exchange cash sales. This is in addition to all existing requirements. Please be guided accordingly. O. O. AKANJI (MRS.) DIRECTOR TRADE & EXCHANGE DEPARTMENT