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Port Charges: Oil Marketers to Get Forex from CBN

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By Modupe Gbadeyanka

Central Bank of Nigeria (CBN) on Tuesday announced that oil marketers paying port charges to the Nigerian Ports Authority (NPA) and other agencies like the Nigerian Maritime Administration and Safety Agency (NIMASA) will now be accommodated in its foreign exchange window.

In a circular marked TED/FEM/FPC/GEN/01/011 and signed by the Director of Trade and Exchange Department, Wuritka Dauda Gotring, the apex bank explained that all what the oil marketing firms need to do to access this forex support is to fill the Form ‘A’.

The central bank stressed that it was offering this support to improve forex availability and as well “ameliorate challenges encountered by critical stakeholders.”

The CBN, in the circular, disclosed that, “Authorised dealers are directed to accept the request for the payments of port charges from oil marketing companies and forward same to the CBN Foreign Exchange window.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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