Re: Inclusion of Some Imported Goods and Services on the List of Items Not Valid for Foreign Exchange in the Nigerian Foreign Exchange Markets

TRAL BANK OF NIGERIA rporate Head Office ntral Business District P.M.B. 0187. Garki, Abuja, FCT 09 46237802 TRADE AND EXCHANGE DEPARTMENT 09 46237809 E-mail address: fed@cbn.gov.ng TED/FEM/FPC/GEN/01/021 October 23, 2015 TO:
ALL AUTHORIZED DEALERS
AND THE GENERAL PUBLIC
RE: INCLUSION OF SOME IMPORTED GOODS AND SERVICES ON THE LIST OF ITEMS NOT VALID FOR FOREIGN EXCHANGE IN THE NIGERIAN FOREIGN EXCHANGE MARKETS Further to the circular Ref: TED/FEM/FPC/GEN/10/010 of June 23, 2015 on the above subject, Authorised Dealers are hereby informed of the following for immediate compliance:

1. Confirmed/Unconfirmed Letters of Credit established before the release of the circular of June 23, 2015 in respect of the 41 items excluded from the foreign exchange market can now be paid from the interbank foreign exchange market; 2. This circular applies only to the "LETTERS OF CREDIT" established for the 41 items prior to the date of the circular; 3. Banks are required to render weekly returns on the negotiated Letters of Credit to the Director, Trade and Exchange Department, CBN Abuja as per the attached format.

2. For the avoidance of doubt, no bank or Bureau de Change (BDC) is to provide foreign exchange for any of the 41 items in respect of Forms 'M'
   established after June 23, 2015.

All Authorised Dealers are enjoined to ensure strict compliance.

OLAKANMIT. GBADAMO
DIRECTOR
TRADE & EXCHANGE DEPARTMENT
RETURNS ON THE OUTSTANDING LETTERS OF CREDIT IN RESPECT OF THE LIST OF THE 41 ITEMS NOT VAI FOR FOREIGN EXCHANGE ESTABLISHED BEFORE 23ºº JUNE, 2015

| NEGOTIATED