BREAKING NEWS: CBN announces Price Verification System Portal(PVS).

GO-LIVE OF THE CENTRAL BANK OF NIGERIA PRICE VERIFICATION SYSTEM PORTAL

Following the successful conduct of the pilot run and various trainings held with all the banks, the Central Bank of Nigeria hereby announces the Go-Live of the Price Verification System (PVS).

Consequently, with effect from August 31, 2023, all applications for Forms M shall be accompanied by a valid Price Verification Report generated from the Price Verification Portal.

For the avoidance of doubt, by this circular, the Price Verification Report has become a mandatory trade document precedent to the completion of a Form M.

All Authorised Dealers are hereby advised to bring this to the attention of their customers as any case of infraction will be appropriately sanctioned.

Please ensure compliance.

DR. O.S. NNAJI DIRECTOR TRADE & EXCHANGE DEPARTMENT

someone speak english please??

Is it a big deal to mention foreign exchange in the report?

See as I rush think say na the prices of Garri, Groundnut, Sugar and Fuel.

The illegitimate man must be ousted out.
Illegitimate person cannot birth legitimate government.
That's my own.

Another PVS like IRev
That would complicate everything

Let's see how this goes .But what if price changes before the goods are imported!

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From Fear to Freedom: How the World's Worst Dictators Ruled with an Iron Fist


https://www.youtube.com/watch?v=atVqXPoOucc

So price of things go come down abi wetin 🤷🏻‍♂️

well it is good initiative from CBN. that is if I understand what it means. I leave this comment for the Bureau de change guys to explain

Let's see how this goes....

The current acting CBN governor knows that he will also have his time with the law enforcement after the druggie and mandate thief is booted out

Importance of this please?

Another dubious scam loading.

Hmmm let's see how it goes

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What's it about?

Does this affect forex rate?

Nice innovation

What is that gibberish written in that memo uo there?

Price of what are they verifying bikonu?

Who dey price us

From PVC to PVS
Abeg Which one come be Price Verification System again
Make Dem make sure say my bank no lost oo because I go soon put money inside o.

I don't even know what this means.

Interesting times indeed. From one stage to another.

Mynd44 care to explain?
Cos the only sentenece I understood there is the "central Bank of Nigeria"

Hmmmn. All these aren't the problems of Nigerians, the average Nigerian isn't happy with his financial standing .Let the government repair refineries and find a way to bring down the cost of pms. People are hungry !

Dis is d funniest thing ever from CBN. how can a body like CBN be adopting any idea?

All these policy flip flops


After blaming diaspora remittances as the reason why naira is crashing