Regulatory Alerts2009-05-04 | TED-FEM-FPC-GEN-01-071-09Daily Rendition of Returns by Authorised Dealers and Bureaux De Change Companies Through eFASS
The Central Bank of Nigeria has announced that as of May 7, 2009, Authorised Dealers and Bureaux de Change Companies must submit daily returns through the new electronic Financial Accounting System (eFASS). This is to replace the previous submissions. Daily reporting will cover weekdays starting from Monday, May 4, 2009. The New Data Submission System (DSS) with the appropriate template can be found on the CBN website. Authorised Dealers need to submit 29 daily/consolidated monthly returns, while Bureaux de Change Companies are required to submit 8 such reports. This information comes after two previous circulars dated February 26 and 27, 2009.
Tel: 09 462 37 811 May 23, 2007 Fax: 09 462 37 809 Central Bank of Nigeria Central Business District P.M.B. 0187 Garki, Abuja E-mail address:ted@cenbank.org TED/FEM/FPC/GEN/01/071 May 4, 2009 TO: All AUTHORISED DEALERS, Bureaux de Change Companies AND THE GENERAL PUBLIC DAILY RENDITION OF RETURNS BY AUTHORISED DEALERS AND BUREAUX DE CHANGE COMPANIES THROUGH eFASS Further to our circulars Ref: TED/FEM/FPC/GEN/01/025 of February 26, 2009 and TED/FEM/FPC/GEN/01/027 of February 27, 2009, Authorised Dealers and Bureaux de Change Companies (BDCs) are hereby informed that the New Data Submission System (DSS) containing the template for daily returns rendition on eFASS is now available on the CBN Website. Consequently, DAILY rendition of ALL returns via eFASS would commence with effect from Thursday May 7, 2009 and shall cover the days of the week beginning from Monday May 4, 2009.
For the avoidance of doubt, All Authorised Dealers are to render 29 Daily/consolidated monthly returns while Bureaux de Change Companies are to render 8 Daily/consolidated monthly returns Please be guided accordingly. H. A. SALAKO for: DIRECTOR TRADE & EXCHANGE DEPARTMENT