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Global Trade Alert

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Nigeria: Ban on cross-border corporate credit and debit card use

Description

On 6 July 2015, the Central Bank of Nigeria (CBN) further curbed access to foreign currency. In a circular by the Director of the Banking and Payment Systems Department, card issuing banks are subjec...

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Intervention Details

Intervention Type

Controls on commercial transactions and investment instruments

MAST Chapter

Capital control measures

Implementation date

06 Jul 2015

Revocation date

No revocation date

Implementation level

National

Affected flow

Inward

Announced as temporary

No

Eligible firms

all

Affected Trading Partners

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Table

Affected Sectors

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Affected Products

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