Regulatory Alerts2025-01-08 | TED/FEM/FPC/GEN/001/001Suspension of Extension of Export Proceeds on behalf of Exporters
The Central Bank of Nigeria will no longer approve requests for extensions on the repatriation of export proceeds by authorized dealers on behalf of their customers. Proceeds from oil and non-oil exports must be repatriated and credited to exporters' accounts within 180 and 90 days, respectively. All authorized dealer banks must ensure their customers are aware of and comply with these regulations.