Regulatory Alerts2012-05-18 | TED.FEM.FPC.GEM.01.013.2012Added · Updated
Foreign Loan Repayment From The Nigerian Foreign Exchange Market
The Central Bank of Nigeria's Trade & Exchange Department has issued a circular outlining guidelines for repayment and interest payment on foreign loans. Effective immediately, loans taken for raw materials, plant, or machinery will be funded from the WDAS. For other purposes, repayments should come from the inter-bank market, and ancillary loan charges must also use inter-bank funds. All transactions must be supported by relevant documentation to avoid sanctions.
More like this from CBN
CBN published 1 document in the last 30 days. We email you each new one the day it's published.
Topics
fx
Share