Regulatory Alerts2015-06-26 | TED/FEM/FPC/GEN/01/010Inclusion of Some Imported Goods and Services on the List of Items Not Valid for Foreign Exchange in the Nigerian Foreign Exchange Market - UPDATED
The Central Bank of Nigeria announces that importers of certain goods and services will no longer be able to access foreign exchange at the Nigerian foreign exchange markets to encourage local production and conserve foreign reserves. While the importation of these items is not banned, importers must use their own funds for such transactions without recourse to the Nigerian foreign exchange markets. Authorized dealers are instructed to ensure strict compliance with this directive.
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