ANNOUNCEMENT 06 Jul 2015In July 2015, the government of Nigeria announced a change in the private sector requirements to balance imports and exports.
NUMBER OF INTERVENTIONS
Central Bank of Nigeria, Banking and Payment Systems Department, 6 July 2015, 'Circular on the Implementation of Controls on Naira Denominated Card Transactions Consumated Overseas', Circular reference no. BPSD/DIR/GEN/CIR/02/005: http://www.cenbank.org/Out/2015/BPSD/Circular%20on%20The%20Implementation%20of%20Controls%20on%20Naira%20Denominated%20Card%20Transactions%20Consumated%20Overseas.pdf
Tony Chukwunyem, 7 July 2015, 'CBN restricts use of naira denominated cards', New Telegraph: http://newtelegraphonline.com/cbn-restricts-use-of-naira-denominated-cards/
On 6 July 2015, the Central Bank of Nigeria (CBN) further curbed access to foreign currency. In a circular by the Director of the Banking and Payment Systems Department, card issuing banks are subjected to the following four restrictions:
See Related Measures for preceding restrictions on the abroad use of Naira denominated cards.