CBN mandates FX sellers to Bureau De Change of the equivalent of 10,000 dollars and above to declare their forex sources
Haruna Mustapha, Director, Financial Policy and Regulation Department of the CBN, said this in a revised regulatory framework to curtail excesses of BDCs and check uncertainty in the foreign exchange market. Mustapha said that such sellers would also be required to comply with all Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) regulations. The guidelines also […]
CBN releases US$500 million to various industries to further alleviate the backlog of confirmed foreign exchange transactions
The Acting Director of the Corporate Communications Department at the CBN, Mrs. Hakama Sidi Ali, stated this in Abuja on Monday, noting that the management of the CBN was committed to settling all legitimate foreign exchange backlogs within a short time frame. Reiterating the assurances of the Governor, Mr. Olayemi Cardoso, Sidi Ali said the […]