2007-03-19 | TED-FEM-GEN-FPC-01-35-07

Need For Importers Of Petroleum Products To Have Depot/Storage Facilities

The Central Bank of Nigeria has mandated that all licensed importers of petroleum products must have depots/storage facilities and provide proof from the Department of Petroleum Resources. Starting from the date of this circular, Authorised Dealers are required to verify this documentation before processing transactions. Failure to comply may result in sanctions, including suspension from the Forex Market. The Trade & Exchange Department urges all Authorised Dealers to adhere to this directive.

Nigeria

Central Bank of Nigeria

Show thumbnail