JUST IN: Central Bank Unveils Official FX Price Verification System Portal

Dollar (USD) to Naira Black Market Rate today- 25th May 2022

The Central Bank of Nigeria has implemented a foreign exchange pricing checking system to allow importers access to foreign currency.

According to a statement issued by the apex bank’s Trade and Exchange Department on Thursday night, a price verification report from the portal is now required for all Form M requests beginning August 31, 2023.

“Following the successful conduct of the pilot run and various trainings held with all banks, the Central Bank of Nigeria hereby announces the Go-Live of the Price Verification System (PVS),” the announcement states.

“All applications for Forms M shall be accompanied by a valid price verification report generated from the price verification portal.

“For the avoidance of doubt, by this circular, the price verification report has become a mandatory trade document precedent to the completion of a Form M.”

While urging all authorised dealers to inform their customers of the development, the CBN also said any case of infraction would be appropriately sanctioned.

“Please, ensure compliance,” the apex bank added.

Stay Connected , follow us on: Facebook: @creebhillsdotcom, Twitter: @creebhillsblog, Instagram: @creebhills, Pinterest: @creebhills Telegram: creebhills

To place an advert/sponsored post on our site, contact us via [email protected]

Previous articleFirst Lady Remi Tinubu Rewards Super Falcons Players With $10000 Each After 20023 FIFA WWC
Next articleParamount turns down Tyler Perry’s $2 Billion offer to buy BET
I am an experienced blogger and content writer who is passionate about creating engaging and informative written materials. With over eight years of industry experience, I excel in crafting compelling content that captivates readers and adds value. My areas of expertise include news, politics, entertainment, sports, celebrity biographies, and trending topics in Nigeria and beyond. Let's connect via my social media pages below.