Payment of Dividends/Proceeds of Foreign Investments in Nigeria by Foreign Entities, Proceeds of International Air Tckets and Consultancy Services

CENTRAL BANK OF NIGERIA
Corporate Head Office Central Business District P.M.B. 0187, Garki, Abuja, FCT
Tel: ....................

Fax : ....

TRADE & EXCHANGE DEPARTMENT
09-46237804 09-46237811 e-mail:-ted@cbn.gov.ng October 13, 2011 Our Ref: TED/FEM/FPC/GEN/01/020 ALL AUTHORISED DEALERS AND THE GENERAL PUBLIC TO:
PAYMENT OF DIVIDENDS/PROCEEDS OF FOREIGN INVESTMENTS IN NIGERIA BY FOREIGN ENTITIES, PROCEEDS OF INTERNATIONAL AIR TICKETS AND CONSULTANCY SERVICES This is to inform all Authorised Dealers and the general public that from the date of this circular, all remittances in respect of dividends, capital and proceeds of investments, proceeds of sale of international air tickets and consultancy services shall be through the use of autonomous funds.

For the avoidance of doubt, foreign investors are guaranteed repatriation of their earnings and/or proceeds of investments through the use of autonomous funds. All the remittances in respect of these transactions are expected to comply with full relevant documentation requirements. Authorised Dealers are enjoined to bring the details of this circular to the attention of their customers for strict compliance.

DIRECTOR,
TRADE AND EXCHANGE DEPARTMENT