New order of SFEM

A new form on which authorised SFEM dealers are expected to make full returns of all transactions to the Central Bank of Nigeria, CBN, before June 25, has been issued.
According to a Central Bank circular released on Wednesday, dealers are now required to state details of foreign exchange sales from funds acquired on a special SFEM/CON/2/86 Form.”
Dealers are expected to give details of foreign exchange sales from the inception of SFEM on September 26 till yesterday, (June 18).
Such completed forms are to be signed by an executive director of the respective dealer before being submitted to the director of exchange control.
By the new order similar returns are also to be submitted in respect of all future bidding sessions tot he CBN director of foreign exchange before bidding sessions.
A meeting to discuss the new SFEM guidelines with authorised dealers will hold for today at the conference hall of the CBN at 10 am.