Capital Importation: CBN Goes Electronic

By Ikenga Chronicles September 11, 2017

Capital Importation: CBN Goes Electronic

The Central Bank of Nigeria(CBN) has disclosed that it has gone electronic in the issuance of a Certificate of Capital Importation.

Director, Trade and Exchange, CBN, Mr W.D Gotring, disclosed this last Friday in a circular entitled: “Implementation of Electronic Certificate of Capital Importation (eCCI) platform.”

According to Gotring, the newly introduced Electronic Certificate of Capital Importation would help boost foreign investment inflows to Nigeria.

The circular stated: “In a bid to enhance transparency and efficient processing of foreign investment flows to the country, the Central Bank of Nigeria hereby informs the Authorised dealers and the public of the deployment of Electronic Certificate of Capital Importation (eCCI) platform.

“The eCCI shall replace the hard copy CCI that is typically issued with respect to capital inflows, cash and machinery inclusive.

“Consequently effective from Monday 11th September 2017, the processing of Certificate of Capital Importation in Nigeria shall only be done electronically on the eCCI platform.”

15 views