By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ng
  • News
    • Politics
    NewsShow More
    Olusegun Obasanjo
    Yoruba Monarchs: Afenifere Condemns Obasanjo’s Stand Up Order
    September 27, 2023
    Francis Nwifuru
    Tribunal Upholds APC’s Francis Nwifuru as Ebonyi Governor
    September 27, 2023
    Peter Afunanya
    DSS Establishes Directorate of Public Relations and Strategic Communications
    September 27, 2023
    Covenant University
    FULL LIST: 2024 Nigerian University Rankings Released, Covenant University Tops
    September 27, 2023
    MC Oluomo
    MC Oluomo Warns NLC Against Interference Amidst NURTW Crisis
    September 27, 2023
  • Entertainment
    EntertainmentShow More
    Naira Marley Addresses Mohbad’s Death, Allegations in Interview (Video)
    September 27, 2023
    Mohbad and Naira Marley
    Mohbad’s Death: Naira Marley Defends Self, Pledges Innocence
    September 26, 2023
    Seun Kuti
    Lack of Access Is Why Some People Criticize Tinubu – Seun Kuti
    September 26, 2023
    Yemi Adeyemi (Suara)
    Veteran Actor Yemi Adeyemi ‘Suara’ Dies
    September 25, 2023
    BBNaija All Stars Finalists: Meet the Top 6 Housemates – How to Vote
    September 24, 2023
  • Business & Economy
    Business & EconomyShow More
    Transcorp Hotels
    Transcorp Hotels Achieves Full Compliance with NGX’s Free Float Requirement
    September 27, 2023
    FG to Collaborate with NGX to Stimulate Startup Listings on Tech Board
    September 22, 2023
    Central Bank of Nigeria (CBN)
    Central Bank of Nigeria Postpones 293rd Monetary Policy Committee Meeting
    September 21, 2023
    Farooq Adedayo Oreagba
    NG Clearing Appoints Farooq Oreagba as Managing Director and CEO
    September 20, 2023
    Abdul Samad Rabiu
    BUA Cement Plans to Reduce Cement Prices from N5,500 to N3,500 – Abdul Samad Rabiu
    September 16, 2023
  • Sport
    SportShow More
    Gennaro Gattuso
    Gennaro Gattuso Named New Coach of Marseille
    September 27, 2023
    Victor Osimhen
    Victor Osimhen Deletes Napoli Posts on Instagram Amidst Controversial TikTok Video
    September 27, 2023
    Quadri Aruna
    Quadri Aruna Clinches Gold at ITTF Championships in Tunis
    September 17, 2023
    Tobi Amusan
    Tobi Amusan Secures Third Consecutive Diamond League Title in 100m Hurdles
    September 17, 2023
    Adekunle Gold Takes Center Stage as Manchester United, Adidas Unveil LFSTLR Collection
    September 12, 2023
  • Tech
    TechShow More
    Google Marks 25th Birthday of Search with Doodle
    September 27, 2023
    YouTube Introduces AI-Powered Features to Empower Content Creators and Artists
    September 21, 2023
    NCC
    NCC Introduces New Numbering Format for Fixed Lines
    September 20, 2023
    Google's Bard now has extensions
    Google’s Bard AI Chatbot Introduces Extensions for Enhanced Collaboration Across Products
    September 20, 2023
    National Coordinator, Office for Nigerian Digital Innovation (ONDI), Yakubu Musa delivering the Director General National Information Technology Development Agency (NITDA), Kashifu Inuwa, Keynote address at the Innovation Support Network (ISN) Gathering 2023.
    Collaboration is Key to Sustainable Innovation, Says NITDA Director-General at ISN 2023 Gathering
    September 18, 2023
Reading: CBN Unveils Foreign Exchange Price Verification Portal for Importers
Share
Notification Show More
Aa
Okay.ngOkay.ng
Aa
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Business

CBN Unveils Foreign Exchange Price Verification Portal for Importers

Muhammad A. Aliyu By Muhammad A. Aliyu August 18, 2023
Share
2 Min Read
SHARE

The Central Bank of Nigeria (CBN) has taken a significant step towards streamlining foreign exchange (FX) processes with the introduction of a Foreign Exchange Price Verification System (PVS) portal.

The portal aims to enhance transparency and accessibility for importers seeking access to forex for their transactions.

In an official letter signed by Dr. O.S. Nnaji – Director, Trade & Exchange Department CBN addressed to all commercial banks on Thursday night, the apex bank announced that the price verification report from the PVS portal will be a mandatory requirement for all Form M requests, effective from August 31, 2023.

The Form ‘M’ serves as a declaration of intention to import physical goods into Nigeria.

- Advertisement -

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

“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.”

“All authorised dealers are, hereby, advised to bring this to the attention of their customers”.

Furthermore, the CBN warned that any instances of non-compliance or infractions will be subject to appropriate sanctions.

TAGGED: CBN, PVS
Share This Article
Facebook Twitter Whatsapp Whatsapp Telegram Email Copy Link Print
What do you think?
Happy0
Love0
Sad0
Angry0
Joy0
Surprise0

Connect with Okay on Social

Facebook Like
Twitter Follow
Instagram Follow
Telegram Follow
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Naira Marley Addresses Mohbad’s Death, Allegations in Interview (Video)
Celebrities
Gennaro Gattuso
Gennaro Gattuso Named New Coach of Marseille
Sports
Olusegun Obasanjo
Yoruba Monarchs: Afenifere Condemns Obasanjo’s Stand Up Order
News
Francis Nwifuru
Tribunal Upholds APC’s Francis Nwifuru as Ebonyi Governor
News Top stories
Peter Afunanya
DSS Establishes Directorate of Public Relations and Strategic Communications
News
- Advertisement -

You Might Also Like

Transcorp Hotels
Business

Transcorp Hotels Achieves Full Compliance with NGX’s Free Float Requirement

September 27, 2023
News

CBN Governor-nominee, Deputies to Undergo Senate Screening Tuesday

September 25, 2023
Olayemi Michael Cardoso
News

Cardoso Assumes Duty as Acting CBN Governor

September 22, 2023
Business

FG to Collaborate with NGX to Stimulate Startup Listings on Tech Board

September 22, 2023
Previous Next
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2022 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Okay.ng on WhatsApp
  • Careers
  • Submit News to Okay.ng
Welcome Back!

Sign in to your account

Lost your password?