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trade and exchange department

COVID

3 Reasons Why CBN Banned The Importation of Maize

As was earlier announced today the Central Bank of Nigeria (CBN) has directed all authorized dealers to discontinue the importation of maize with immediate effect. The CBN made this known in a circular signed by Dr. Ozoemena Nnaji, the Director of Trade and Exchange Department of the apex bank in Abuja. This discontinuation was because of the following reasons. Please read carefully to avoid wrong assumptions and conclusions against the Federal Government. 1. Inability to fill adequate Forms for License There

  2 years ago ago
3 Reasons Why CBN Banned The Importation of Maize

COVID

Central Bank Mandates Commercial Banks To Stop Processing Form M Documents For Maize Importers

Central Bank of Nigeria (CBN) on Monday mandated all commercial banks to stop processing new Form M documents for maize importers with immediate effect. This was made known in Abuja in a circular signed by the Director of Trade and Exchange Department of the Apex bank, Dr. Ozoemena Nnaji. Form M is a mandatory statutory document to be completed by all importers for the importation of goods into the country which enables them bid for dollars from the Apex Bank. Recently, the dollar demand has been on the increase

  2 years ago ago
Central Bank Mandates Commercial Banks To Stop Processing Form M Documents For Maize Importers

POLITICS

Top News In Nigeria Today

1. CBN Grants Unfettered Access to Forex from Diaspora Remittances Yesterday, the Center Bank of Nigeria disclosed new strategy that grant unfettered admission to Forex from Diaspora and other money transfer remittances like Western Union and MoneyGram. This strategy allow all the heirs of Diaspora remittances through IMTOs, the International Money Transfer Operations, to start receiving inflows in the original foreign currency through the designated bank of their choice. According to the report, the new strategy

  1 year ago ago
Top News In Nigeria Today

ECONOMY-FINANCE

Send A Dollar, Get Five Naira Free” - Central Bank Of Nigeria Launches Forex Promo

The Central Bank of Nigeria (CBN) on Saturday presented a "Naira 4 Dollar Scheme", a motivation that pays naira to senders and beneficiaries of worldwide cash moves.

  1 year ago ago
Send A Dollar, Get Five Naira Free” - Central Bank Of Nigeria Launches Forex Promo

ECONOMY-FINANCE

Desist from forex malpractices- CBN warns commercial banks.

CBN Governor Emefiele The Central Bank of Nigeria has warned Deposit Money Banks to always exercise due diligence and refrain from engaging in any form of fraud in foreign exchange transactions. The apex bank issued the warning in a letter addressed to the DMBs by Ozoemena Nnaji, Director of Trade and Exchange Department.

  11 months ago ago
Desist from forex malpractices- CBN warns commercial banks.

COVID

CBN Moves To Ban Importation Of Maize

The Central Bank of Nigeria (CBN) has directed all accepted sellers to discontinue the processing of Form M for the importation of maize with instant effect. The CBN made this regarded in a round signed by way of Dr. Ozoemena Nnaji, the Director of Trade and Exchange Department of the apex financial institution in Abuja. Form M is a obligatory statutory record to be done by using all importers for the importation of items into the country. The apex financial institution directed all approved sellers to put up

  2 years ago ago
CBN Moves To Ban Importation Of Maize

ECONOMY-FINANCE

Send a dollar, get five naira free - Central Bank of Nigeria launches forex promo

Picture of the Central Bank of Nigeria's headquarters.The Central Bank of Nigeria has disclosed the introduction of a "Naira for Dollar Scheme".The scheme promises to pay Naira to senders and recipients of international money transfers.

  1 year ago ago
Send a dollar, get five naira free - Central Bank of Nigeria launches forex promo