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

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
Related Topics:
Hassan MahmudExchange DepartmentCentral BankNigerian Foreign Exchange MarketInternational Oil Companies IocsInternational Oil CompaniesCash PoolingForex FormPrice Verification SystemAuthorized Dealer BanksInvestigative ReportingBreaking News
FX: CBN imposes 50% cap on IOCs repatriation - Vimarsana News

FX: CBN imposes 50% cap on IOCs repatriation

Published: February 15, 2024

"Banks are allowed to pool cash on behalf of IOCs, subject to a maximum of 50 per cent of the repatriated export proceeds in the first instance...," the bank said.

Source: premiumtimesng.com
Related Topics:
Hassan MahmudOlayemi CardosoExchange DepartmentCentral BankForex FormForeign Reserves