Business
By Anthony Isibor
THE Central Bank of Nigeria, CBN, has directed all relevant authorities to discontinue the use of the Price Verification Portal System, PVS.
“This means that the Price Verification Report is no longer a requirement for the completion of a Form ‘M’,” the CBN said.
The directive is contained in a circular signed on Thursday by W. J. Kanya, Ag. Director, Trade and Exchange Department of the CBN.
According to the circular, the new directive is in view of recent developments in the Nigerian Foreign Exchange Market.
It also stated that following the new directive, with effect from July 1, 2024 all applications for Form ‘M’ shall be validated without the Price Verification Report generated from the Price Verification Portal.
The circular with reference number TED/FEM/PUB/FPC/001/020 of June 26, 2024 was addressed to all authorised dealer banks and the general public.
A.I
June 27, 2024 @ 11:59
Tags: CBN W. J. Kanya
