CBN, banks to blacklist erring exporters for non-repatriation of proceeds

CBN, banks to blacklist erring exporters for non-repatriation of proceeds

The Central Bank of Nigeria (CBN) and the Bankers Committee have resolved to sanction erring exporters by blacklisting them for non-repatriation of proceeds. The CBN had in 2015 directed exporters to repatriate their dollar earnings within 180 days, or be barred from all segments of the foreign exchange market. “The issue we have had in…

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