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.

Click here for more posts on Africa

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

Click here for more posts on Africa

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: