Regulatory Alerts2007-10-19 | TED-FEM-FPC-130-07Added · Updated
Amendment of the Provisions of Memorandum 15, Section 8 (iii) of the Forex Manual
The Central Bank of Nigeria has amended the provisions in Section 8(iii) of Memorandum 15 of the Foreign Exchange Manual. Changes include ATS fees between 15% and 23%, not exceeding three years; mandatory involvement of local vendors for agreements or updates, with minimum 40% fees in Naira. Authorized dealers are instructed to inform their customers of these changes for compliance.
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