2009-05-04 | TED-FEM-FPC-GEN-01-072-09

Re: Further Guidelines on the Sale of Foreign Exchange by Oil and Oil Service Companies, NNPC and Other Governement Agencies

The Central Bank of Nigeria has issued updated guidelines for foreign exchange sales by oil and oil service companies, NNPC, and other government agencies. These new instructions require payment messages to contain the beneficiary's name (oil company/organisation), their bank's name, and the purpose of payment. Failing to provide this information may delay processing and payment of naira proceeds.

Nigeria

Central Bank of Nigeria

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