Exports from Nigeria – Compliance with Memorandum 11 of the Foreign Exchange Manual


  Read (1594)
Exports from Nigeria – Compliance with Memorandum 11 of the Foreign Exchange Manual

Thursday, June 8, 2017 8:45 AM /CBN

In the continued effort to ensure that all export transactions are carried out through the formal channels, bills of lading in respect of exports from Nigeria shall henceforth carry the Form NXP number of the underlying cargo.

Consequently, all exporters are required to register Forms NXP with an Authorized Dealer of their choice prior to shipment in line with Memorandum 11 Section 1 (a)(i).

For the avoidance of doubt, it shall be a breach of extant regulations for any shipper to take on-board any cargo for which a Form NXP is not duly completed by the exporter.

This Circular takes immediate effect.
 



Related News
 1.     
CBN Directs OFIs to Enroll Customers for BVN
2.     
CBN Suspends the Implementation of Interchange Regime Indefinitely
3.     
CBN Publishes 2016 Financial Stability Report
4.     
RECALL: Recent Changes of Guards At The Central Bank of Nigeria



Tags: bills ,  Nigeria ,  Memorandum ,  exports ,  NXP number , 



Comment With Your Facebook or Yahoo! ID

News from the same Category

PMI Reading Rose to 58.5 Points in August from 56.3 Points in July
#NES23 will address issues around employment, productivity and opportunities-Udoma
Alarm Bells As Current Account Surplus Narrows Again
Lagos State Has the Highest Foreign and Domestic Debts as at June 2017
Make Your Research Relevant to National Development, Udoma Charges NISER
September 2017 Headline Inflation Projected at 16.3% YoY

Latest News

Federal Reserve issues FOMC statement
Nigeria Immigration Service Bans Cash Payment at Passport Offices
FirstBank’s Customer Wins Grand Prize in Western Union Mega Promo
Volatile Oil Prices in August
Stamp Duties on Bank Deposits and Transfers: Are There Unresolved Issues?
Naira Depreciated To N370-$ Mid-August in the Parallel Market
Our Network

Proshare Network
Content partnership

News & Events

News
Articles
Special Reports
Events Calendar

The Regulators
BPE
CAC
CBN
FIRS
FMBN
FMDQ

More

Policy

Privacy Policy
Disclaimer
Terms of use

Information

About us
Advertise with Us
Partner With Us
Contact Us
The Regulator is a market service provided by Proshare Nigeria Limited.

The Upper Room, Plot 1, Lekan Asuni Close, Off Toyin Omotosho Street, Omole Phase II, Isheri LGA, P.O. Box 18782, Ikeja, Lagos, Nigeria. Telephone 0700 PROSHARE (0700- 77674273). Registered in Nigeria. We may record and/or monitor telephone calls or intercept other telecommunications between us. This is to protect both of us and for training purposes.