Credit, Bills For Collection and other forms of payment in favour of the ultimate supplier of the products.”
In a customer notice titled, “Destination payment for all forms ‘M’, letter of credit and other forms payment”, the bank said that in its bid to ensure that it operates within the laws regulating Banking Operation in Nigeria, it will adhere to the Central Bank of Nigeria, CBN, directives immediately.
The apex bank has also concluded plans to introduce a product price verification mechanism to forestall over-pricing and/or mispricing of goods and services imported into the country.
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