Global Trade Alert
Global Trade Alert

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

Announcement

06 Jul 2015

In July 2015, the government of Nigeria announced a change in the private sector requirements to balance imports and exports.

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Number of interventions

1

1 certainly harmful

0 likely harmful

0 liberalising

List of interventions

1 in force

Implementation date

06 Jul 2015

Revocation date:

No revocation date

Controls on commercial transactions and investment instruments In force

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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