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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

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. ....

Hassan Mahmud , Exchange Department , Central Bank , Nigerian Foreign Exchange Market , International Oil Companies Iocs , International Oil Companies , Cash Pooling , Forex Form , Price Verification System , Authorized Dealer Banks , Investigative Reporting , Breaking News ,

Nigeria's Central Bank Stops Dollar Payments For Personal, Business Travel Allowances

    The Central Bank of Nigeria (CBN) has announced a ban on the payment of Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) by cash. The apex bank made this known in a circular dated February 14, 2024, signed by the Director of Trade and Exchange Department, Dr. Hassan Mahmud and sent to all authorized dealer banks. ....

Hassan Mahmud , Central Bank , Foreign Exchange , Exchange Department , Personal Travel Allowance , Business Travel Allowance , Business Travel , Authorized Dealer Banks , Investigative Reporting , Breaking News ,