The Central Bank of Nigeria (CBN) has announced the suspension of banks extending export proceeds on behalf of exporters. In a circular released by Dr. W.J. Kanya, the Acting Director of Trade and Exchange Department, the decision aligns with provisions outlined in Memorandum 10A (23a) and Memorandum 10B (20a) of the Foreign Exchange Manual, Revised … Continue reading CBN Halts Export Proceeds Extensions by Banks