Repatriation of Oil and Non-Oil Export Proceeds

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Further to the provisions of the circular Ref: TED/FEM/FPC/GEN/01/005 of February 19, 2015 on the above subject, exporters are hereby reminded that failure to repatriate their exports proceeds within the stipulated 90 days for OIl and Gas and 180 days for Non-Oil Exports constitute a breach of the extant regulation.

Consequently, any exporter that defaults in the repatriation of export proceeds within the stipulated period shall be barred from accessing all banking services including access to the foreign exchange market.

Please note and ensure compliance accordingly

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