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CBN permits international oil firms to sell 50% of proceeds

Published: June 1, 2024

The CBN has announced that international oil companies can sell their retained 50 per cent of repatriated export proceeds in the Nigerian Foreign Exchange Market.

Source: punchng.com

Good News for Naira as CBN Tells Oil Companies to Sell Dollar to Dealers, Users

Published: June 1, 2024

International oil corporations may now sell the remaining 50% of their repatriated export earnings with approval from the CBN to authorised dealers and users.

Source: legit.ng

International oil firms can sell 50% of proceeds - CBN

Published: June 1, 2024

International Oil Companies (IOCs) can sell 50% balance of their repatriated export proceeds to authorized forex dealers, the Central Bank of Nigeria (CBN), has announced. This is according to a circular on Friday signed by director, trade and exchange department, W.J. Kanya. On February 14, CBN placed limits on the…

Source: dailytrust.com

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

Published: February 16, 2024

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.

Source: saharareporters.com