Regulatory Alerts2011-10-13 | TED.FEM.FPC.GEN.01.020Payment of Dividends/Proceeds of Foreign Investments in Nigeria by Foreign Entities, Proceeds of International Air Tckets and Consultancy Services
The Central Bank of Nigeria's Trade and Exchange Department has issued a circular stating that from its publication date onwards, all remittances involving dividends, capital and proceeds of foreign investments, proceeds of international air ticket sales, and consultancy services will be processed through autonomous funds. This policy is intended to ensure full regulatory compliance while guaranteeing repatriation rights for foreign investors. Authorized dealers are required to inform their customers about this new directive.
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