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The Central Bank of Nigeria (the “Bank” or the “CBN”), pursuant to its powers under the Central Bank of Nigeria Act, 2007 and the Banks and Other Financial Institutions Act, 2020 (BOFIA), has issued the Guidelines
Read MoreINTRODUCTION On July 25, 2024, the Internal Revenue Service (IRS) released new guidelines on the tax treatment of foreign exchange transactions in Nigeria. These guidelines aim to provide clarity on how such transactions should be reported
Read MoreIntroduction In August 2024, the Central Bank of Nigeria (CBN) announced the implementation of the Retail Dutch Auction System (RDAS) to address the growing unmet demand for foreign exchange (forex) within the country. This initiative is
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