BREAKING: CBN Bars Oil Companies From Remitting 100% Forex Proceeds Abroad

The Central Bank of Nigeria (CBN) has stopped international oil companies from repatriating 100% foreign exchange proceed to their mother companies overseas.

The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated February 14, 2024.

JUST IN: FG, States Mull Creation of State Police