TED/FEM/FPC/GEN/01/112 September 14, 2007

Further to previous circulars on the above subject matter, all Authorized Dealers, Bureau de Change and the general public are advised of the
following amendments/reviews:

i. National Youth Service Corps (N.Y.S.C.) discharge certificate or certificate of exemption where applicable is no longer part of documentation requirements for remittance of school fees for Post graduate studies abroad.

However, it should be noted that N.Y.S.C.
still remains a compulsory programme for all eligible Nigerian graduates.

ii. Where an applicant is proceeding on a business trip duly authorized by a corporate body where the applicant is an employee, the latter
(employee) is eligible to purchase Personal Travel Allowance (PTA), in addition to the normal Business Travel Allowance (BTA) subject
to relevant documentations.

iii. Authorized Dealers that have huge cash deposits from Ordinary

Domiciliary Account holders could avail such for their BDC window and its equivalent from WDAS winnings transferred to their Nostro
Account. Accordingly, any Authorised Dealers that wants to avail itself of this arrangement shall inform the CBN a day to the Auction
date.

Authorized Dealers, Bureau de Change operators and indeed the general public are reminded that it is a very serious offence (for which offenders could be liable to prosecution) to use fictitious/spurious documents to
purchase foreign exchange in the Foreign Exchange Market (FEM).

For the avoidance of doubt, all third party documents are for the discretion of the Authorized Dealer banks and Bureau de Change Operators.

O. O. AKANJI (MRS)
DIRECTOR,
TRADE AND EXCHANGE DEPARTMENT
Central Bank of Nigeria