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Central Bank lifts restriction on foreign exchange remittance

    ABIDJAN

    The Central Bank of Nigeria (CBN) lifted on Thursday the ban on foreign exchange remittances by non-Nigerians, under the Debt Conversion Programme (DCP).

    Consequently all interests, profits, dividends and capital proceeds previously prohibited can now be repatriated immediately. ‘The Guardian’ quoted observers as saying that the amendment would boost foreigners’ confidence in the DCP, which is seen as a tool to reduce the country’s US $31 billion external debt.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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