Endorsement of Department of Petroleum Resources (DPR) permits used for importation of petroleum products

CENTRAL BANK OF NIGERIA
Corporate Head Office Central Business District P.M.B. 0187, Garki, Abuja, FCT TRADE & EXCHANGE DEPARTMENT

Tel ................

09 46237804 09 46237802 Fax : ..........

E-mail address:ted@cenbank.orq TED/FEM/FPC/GEN/01/007 May 13, 2011 ALL AUTHORISED DEALERS TO:
NIGERIA CUSTOMS SERVICE NIGERIAN NATIONAL PETROLEUM CORPORATION DEPARTMENT OF PETROLEUM RESOURCES ALL OIL & GAS COMPANIES AND THE GENERAL PUBLIC ENDORSEMENT OF DEPARTMENT OF PETROLEUM RESOURCES (DPR) PERMITS USED FOR IMPORTATION OF PETROLEUM PRODUCTS In order to further streamline the documentation requirements for petroleum products importation, the following guidelines shall henceforth apply:

1. All Authorised Dealers are required to endorse the Department of Petroleum Resources (DPR) Permit at the reverse side, stating the date, volume and value of the products for which LC is being established; 2. After the consummation of the transaction, Authorised Dealers are to ensure that shipping documents are submitted by the importer. However, where the importer failed to submit all the stipulated documents, the Authorised Dealer is enjoined to report the matter promptly to CBN for necessary action.

For the avoidance of doubt, any Authorised Dealer found to have processed transactions with DRP permit already exhausted shall be sanctioned appropriately, which could include suspension from the Foreign Exchange Market.

Authorised Dealers are enjoined to ensure compliance.

W. D. GOTRING for: DIRECTOR
TRADE AND EXCHANGE DEPARTMENT