Foreign exchange payment for small scale importers

After almost 2 years ,the federal government of Nigeria and central bank of Nigeria (CBN) has announced what large number of business people would call "green light at last"...

The apex bank has announced the waive of requirement of memorandum 10 (1 iii) of the foreign exchange manual as its efforts to enable easier access to foreign exchange by small scale enterprise

At this juncture ,the waiver allows non incorporated companies to establish FORM "Q"and have access to twenty thousand united states dollars ($20.000),

This development came to be achieved after numerous seatings with manufacturers association of Nigeria (MAN) etc

This amount can be obtainable through your bank and it is per customer quarterly for importation of eligible physical goods into the country

Personally i consider this step as the way forward to ease the nation's estranged economy. Nigeria as the most populous nation in Africa with large importation power has suffered excessively due to the policy of the federal government to stop forex as one of the ways to control money laundering and to lower the interests of foreign goods.

Note ..Visit your bank for more information

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Hi,my name is Akon

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