COMPLEXCOUNTRIES
Global Treasury intelligence
Cash Repatriation from Nigeria
Cash Repatriation from Nigeria
Call date: 23rd Jun 2020
Treasurers describe their company’s
current approach and recent experiences in repatriating cash to HQ from NIGERIA and answered each others’ questions.
The call was chaired by Arnaud Francq, the key discussion details are below.
If you would like a copy of this report, please get in touch.
Key take aways
- It’s important to have a good local team to process regulatory documentation etc.
- Local investment options are limited, most participants use their international relationship banks
- for cash deposits even if they can get higher rates from local banks.
- FX shortage is experienced by all players, but limited amounts can be found from currency
- brokers at increased spread
- Further depreciation of the NGN is expected even if the oil price recovers.
- Preparation for dividends is onerous and it can take a year or more to prepare and original paper
- documents are required
- Preparing royalty fees takes 6 – 9 months and is less onerous provided all the underlying
- agreements are in place
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