Announcement
26 Sep 2013
On the 26 September 2013, the Central Bank of Nigeria released a circular with restricting as well as relaxing provisions on the use of foreign exchange:
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Number of interventions
2
1 certainly harmful
0 likely harmful
1 liberalising
List of interventions
2 in force
Implementation date
26 Sep 2013
Revocation date:
No revocation date
Controls on commercial transactions and investment instruments
In force
The limit of USD 40’000 on the overseas use of Naira denominated credit and debit cards was increased to USD 150’000.
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Implementation date
26 Sep 2013
Revocation date:
No revocation date
Controls on commercial transactions and investment instruments
In force
Importation of foreign currency cash by authorized dealers is subject to prior approval by the CBN. Authorized dealers selling USD to exchange offices are limited to maximum USD 250’000 per week and o...
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