1
00:00:00,160 –> 00:00:05,080
Central Bank of Nigeria CBN has issued
a draft copy of a new policy to

2
00:00:05,200 –> 00:00:10,439
regulate the activities of rule their change
BDC operettas in Nigeria, with a specific

3
00:00:10,519 –> 00:00:15,560
intention to stop the vdc operettors from
accepting cash from customers who want to buy

4
00:00:15,599 –> 00:00:20,079
dollar or any foreign currency from them. The draft copy of the policy,

5
00:00:20,399 –> 00:00:25,359
made available on Friday by the CBN, demanded the contributions and inputs of the

6
00:00:25,440 –> 00:00:30,120
general public to be submitted before matt
four, twenty twenty four. The full

7
00:00:30,199 –> 00:00:34,079
draft copy of the planned new policy
is attached to the body of this story

8
00:00:34,119 –> 00:00:39,479
in our websites. According to the
new draft policy, the following conditions shall

9
00:00:39,560 –> 00:00:44,960
apply for this sourcing of foreign currencies
by BDCs. A bd C mass lost

10
00:00:45,039 –> 00:00:51,159
foreign currency from a tourist, b
attorneys from the diaspora, C expatriates with

11
00:00:51,240 –> 00:00:58,079
foreign exchange influence from work travel investments
or their domicillary accounts. D residents with

12
00:00:58,159 –> 00:01:04,560
foreign exchange influence from work travel investments
or their vermicillary accounts. The international money

13
00:01:04,560 –> 00:01:11,319
transfer operetors imtgos, f verses,
G, hotels that authorized buyers of foreign

14
00:01:11,359 –> 00:01:18,680
currencies h the Nigerian foreign exchange markets
and FEM any other source that the CBN

15
00:01:18,760 –> 00:01:23,359
may specify, adding that sellers of
the equivalent of us D ten thousand and

16
00:01:23,439 –> 00:01:27,439
are both to AGDC are required to
DCA the so so of the Foreign Exchange

17
00:01:27,439 –> 00:01:34,680
and comply with all mL cft CPF
regulations and foreign exchange laws and regulations.

18
00:01:34,480 –> 00:01:42,120
Customers may transfer foreign currencies from their
individual domicillary accounts with Nigerian banks to BDCs.

19
00:01:42,920 –> 00:01:48,519
All digital transfer purchases or foreign currencies
shall be credited to the BDCs Nigerian

20
00:01:49,319 –> 00:01:55,519
vermicillary accounts. Perments for all digital
transfer purchases or foreign currency by b DC

21
00:01:55,680 –> 00:02:00,599
shall be by transfer to the customers
narrow accounts. If the customer is non

22
00:02:00,640 –> 00:02:05,359
resident, whether Nigerian or not,
a BDC may issue the customer a PREPAREDNRA

23
00:02:05,480 –> 00:02:10,680
card. Where social card is issued, relevant maximum credit and commulative limits in

24
00:02:10,719 –> 00:02:16,840
line with relevant Know Your Customer requirements
shall apply. Fermans to customers for cash

25
00:02:16,840 –> 00:02:23,080
courstioses or foreign currency the equivalent of
above US day five hundred shall be by

26
00:02:23,120 –> 00:02:28,159
transfer to the customer’s NARRA bank accounts. If the customer is non resident,

27
00:02:28,319 –> 00:02:31,599
whether Nigerian or not, a b
DC shall issue the customer a prepared NIRA

28
00:02:31,759 –> 00:02:38,400
card. Where social card is issued. Relevant maximum credits and commulative limits in

29
00:02:38,479 –> 00:02:44,800
line with relevant Know your Customer requirements
shall apply. Fermans to customers for cash,

30
00:02:44,840 –> 00:02:49,080
courtioses or foreign currency of the equivalents
of us D five hundred and below

31
00:02:49,159 –> 00:02:53,240
may be made in cash. Five
seller foreign currencies by b dcis. The

32
00:02:53,360 –> 00:02:59,879
seller of foreign currencies by BDCs shall
comply with the following conditions. The pop

33
00:03:00,199 –> 00:03:07,080
of cells shall be FOLL Personal Travel
Allowance PTA Business Travel Allowance PTA, provided

34
00:03:07,120 –> 00:03:12,400
that a person who receives BTA and
behalf of a non individual entity shall not

35
00:03:12,479 –> 00:03:17,439
be entitled to PTA for the sem
period payments of medical wills, payment of

36
00:03:17,520 –> 00:03:22,639
school fees, reportchase of all news
narra from a non resident from whom the

37
00:03:22,719 –> 00:03:28,840
VDC had so it’s foreign currency is
because of that visits. B A beneficiary

38
00:03:28,840 –> 00:03:32,240
of BTA or PTS shall receive up
to twenty five percent of the foreign currency

39
00:03:32,280 –> 00:03:37,879
in cash. In other words,
at least seventy five percent of any cell

40
00:03:38,000 –> 00:03:43,560
or foreign currency by VDC shall be
transferred to the customer electronically to the customers

41
00:03:43,680 –> 00:03:49,800
Nigerian dom missilliary accounts or prepared card
c payments for all sales of foreign exchange

42
00:03:49,800 –> 00:03:55,360
by BDCs shall be by transfer to
the BDCs NARRA accounts d notwithstanding b by

43
00:03:55,439 –> 00:04:00,319
bove a beneficiary or BTA or PTA
of the equivalent of USD five hundred,

44
00:04:00,400 –> 00:04:04,960
unless men receive his card, PTA
or PTA in cash. What’s as one

45
00:04:05,080 –> 00:04:09,759
on Reddy bready you the knees in
the mornings. Al