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 […]