Zenith Bank has notified her customers that the Central Bank of Nigeria (CBN), through its circular Ref No. TED/FEM/FPC/GEN/001/001, dated January 8, 2025, has provided an update on the repatriation of export proceeds for Oil and Non-oil Exports in accordance with the provision of Memorandum 10b (20a) of the Foreign Exchange Manual Revised Edition (March 2018).
In a similar notice from Zenith Bank to its customers on Friday, the bank averred that “In the light of the foregoing, please note that with effect from January 8, 2025, CBN will no longer approve requests for extension of repartition of export proceeds by Authorized Dealers on behalf of their customers.
“Also note that proceeds of oil and non-oil exports are to be repatriated and credited into the exporters’ export proceeds domiciliary accounts within 180 days and 90 days from the bill of lading date for Non-Oil and Oil & Gas exports respectively.
Accordingly, Zenith Bank advised her customers to direct all enquires to tradeservicesgroup@zenithbank.com.
