•Customers to pay N5,000 per declaration
By Elizabeth Adegbesan
The Central Bank of Nigeria, CBN, said it has deployed electronic Form ‘A’ for invisible transactions.
The e-Form ‘A’ is meant to replace it’s hardcopy starting today.
The bank also noted that customers would pay a charge of N5,000 as fee per declaration of e-Form ‘A’.
The apex bank disclosed this, yesterday, in a circular titled, “Automation of Form ‘A’ on the Trade Monitoring System.
The circular by Director Trade and Exchange Department, CBN, Dr. Ozoemena Nnnaji, said: “This is to inform all authorized dealers and the general public of the deployment of e-Form ‘A’.
“Accordingly, the e-Form ‘A’ shall replace the hard copy of Form ‘A’ for invincible transactions (PTA/BTA, medicals, education, other remittances etc.}, with effect from November 30, 2021.
“Consequently, all authorized dealers are required to ensure that the processing of Form ‘A’ shall only be done electronically on the…
Source: Vanguard Newspaper