RegAlert

Rule · CBN · 11 May 2007 · TED-FEM-GEN-FPC-01-49-07

Re: Participation of Free Trade Zone Companies in the Nigerian Foreign Exchange Market

fx

This is a notification dated April 19, 2007 to all Authorized Dealers and the general public from the Trade & Exchange Department. The circular addresses the participation of Free Trade Zone (FTZ) companies in Nigeria's foreign exchange market. It clarifies that when registering Form 'M' and 'A' for EPZ/FTZ companies, Authorized Dealers must ensure these forms are marked "CB" and stamped with "EPZ/FTZ - Not Valid for FX". Additionally, all necessary documentation should be in place before processing. Dealers are requested to inform their customers and branches/correspondents operating within the zones of this clarification for compliance and proper handling of FTZ import-export transactions.

NigeriaCentral Bank of Nigeria

E-mail address:ted@cenbank.org TED/FEM/FPC/GEN/01/047 April 19, 2007 TO: All Authorised Dealers and General Public RE: PARTICIPATION OF FREE TRADE ZONE COMPANIES IN THE NIGERIAN FOREIGN EXCHANGE MARKET Further to our circular Ref: TED/AD/90/2005 dated 11th August, 2005, the following clarification on registration of Forms 'M' and 'A' for the EPZ/FTZ Companies are hereby advised.

Authorised Dealers registering Forms 'M' and 'A' for EPZ/FTZ Companies shall ensure that:

  1. Form 'M' is marked 'CB' in addition to their being stamped "EPZ/FTZ (as may be applicable)- Not Valid for FX", and 2. Form 'A' is stamped "EPZ/FTZ (as may be applicable) - Not Valid for FX"
    Furthermore, Authorised Dealers are to ensure that all documentation requirements that are to be met prior to the opening of any of the Forms are in place.

They are also enjoined to bring these clarifications to the attention of their customers and branches/correspondents operating in the zones for compliance and guidance in the processing of EPZ/FTZ import and export transactions.

O. O. AKANJI (MRS.) DIRECTOR
TRADE & EXCHANGE DEPARTMENT

Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.

Similar documents from other regulators

More like this from CBN

We email you every new CBN publication the day it's published.

Source: Central Bank of Nigeria — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

In RegAlert: added · updated

FX rules change often. Get an email the day any regulator we track changes its foreign-exchange rules.