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Central Bank of Nigeria, Trade & Exchange Department

Repatriation of Export Proceeds (Oil and Non-Oil)

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Author
Central Bank of Nigeria, Trade & Exchange Department
Year
2015
Pages
2 pages

This directive requires authorized dealers to ensure that oil export proceeds are repatriated into exporters’ domiciliary accounts within 90 days and non-oil export proceeds within 180 days. Failure may expose the collecting bank to a fine of 10% of the transaction’s FOB value and other…

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