Nigerian banks mentioned proof of a current three-year tax clearance certificates is now a prerequisite for banks’ shoppers in search of overseas alternate.
Commonplace Chartered Financial institution disclosed this in a current notification to clients.
Accordingly, the financial institution mentioned clients making use of for foreign exchange transactions by way of ‘Kind A’ should now present three years of TCC, efficient April 1, 2024.
Different business banks, resembling Constancy Financial institution and Stanbic IBTC, have earlier launched comparable circulars for his or her clients.
This requirement applies to new and current Kind A functions processed on the Central Financial institution of Nigeria’s CBN commerce monitoring system, TRMS.
It added that every one submitted TCCs shall be verified in collaboration with state tax issuing authorities earlier than the approval of any software.
