JUST IN: CBN BARS OIL COMPANIES FROM REMITTING 100% FOREX PROCEEDS ABROAD
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The Central Bank of Nigeria (CBN) has stopped international oil companies from repatriating 100% foreign exchange proceed to their mother companies overseas.
The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated February 14, 2024.
More to follow…
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