Regulatory Alerts2024-11-06 | FPR/DIR/PUB/CIR/002/013Circular To All Commercial, Merchant and Non-Interest Banks on Implementation of the Foreign Currency Disclosure, Deposit, Repatriation and Investment Scheme, 2024
The Central Bank of Nigeria issues guidelines for commercial, merchant, and non-interest banks to implement the Foreign Currency Disclosure, Deposit, Repatriation, and Investment Scheme. The guidelines outline the responsibilities of stakeholders, including banks, participants, and the Central Bank, and provide operational procedures for the scheme. The scheme aims to facilitate the voluntary disclosure, deposit, and repatriation of internationally tradable foreign currencies held by Nigerian citizens.