Nigeria's Central Bank Issues Requirements For Foreign Currency Cash Pooling On Behalf Of IOCs, Allowable Deviation Limit On Price Verification System

The Central Bank of Nigeria (CBN) has released the requirements for foreign currency cash pooling on behalf of International Oil Companies (IOCs) in Nigeria.   The apex bank made the requirements known in a circular dated February 14, 2024, signed by the Director of Trade and Exchange Department, Dr. Hassan Mahmud, and sent to all authorised dealer banks in the country.

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