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[email protected]

Date: Tue, 03 Sep 2024 01:33:46 -0700
From: "Central Bank of Nigeria (CBN)" <[email protected]>
To: undisclosed-recipients:;
Subject: ATTENTION SIR
Reply-To: [email protected]
Mail-Reply-To: [email protected]

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CENTRAL BANK OF NIGERIA
F93Q+FGJ, Tinubu Square Custom street Tinubu Square,
Marina Rd, Lagos Island, Lagos
Phone: +2348150352089

DISBURSEMENT OF THE PROCEEDS OF FOREIGN FUNDS PAYMENT TRANSFER

In exercise of the powers conferred on the Central Bank of Nigeria by
Section 2 (d) of the Central Bank of Nigeria Act, 2007 and Section 57
(2) of the Banks and Other Financial Institutions Act (BOFIA), Laws of
the Federation of Nigeria, 2004, to
issue guidelines for the maintenance of adequate and reasonable
financial services to the public, the Central Bank of Nigeria (CBN)
hereby issues the following guidelines for the regulation of
International money transfer services in Nigeria.

The objectives of the guidelines are to:
i. provide minimum standards and requirements for International money
transfer services operations in Nigeria;
ii. specify delivery channels for offering international money transfer
services(inbound/outbound), in a cost effective manner;
iii. provide an enabling environment for international money transfer
services in the Nigerian economy;
iv. specify minimum technical and business requirements for various
participants in the international money transfer services industry in
Nigeria; and v. provide broad guidelines for implementation of processes
and flows of international money transfer services, from initiation to
completion.

In this case, this is to inform you that the Central bank of Nigeria
Governor has mandated to release all foreign Benefitor's outstanding
payment on before the end of this month.

Acknowledgements
This maiden compendium of CBN Policies and Regulations received the
approval of Management at the highest level, by the Governor, Central
Bank of Nigeria, Mr. Olayemi Cardoso, CON, following the recommendation
and sponsorship of the Deputy Governor, Economic Policy, Mr. Muhammad
Sani Abdullah. I commend Management for the invaluable and unflinching
support.

You are requested to provide to this office

1. YOUR FULL NAME AND ADDRESS
2. CONTACT PHONE OR WHATSAPP NUMBER
3. YOUR ID
4. YOUR BANK ACCOUNT DETAILS
5. $160 FOR STAMP DUTY AND AUTHORIZATION FEE (COMPOSSARY)

You are to provide these information immediatley you receive this update
to enable us to round up with your payment as mandated WITHOUT DELAY.

Finally, I am indebted with gratitude to the Management of the Bank for
constantly supporting laudable initiatives

Dr.Usman Shamsudeen
Director, Foreign Remittance Department
Central Bank of Nigeria (CBN)