Cash Repatriation from Nigeria

Report date: 
11 Jul 2020
  • 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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