Dangote Refinery has expressed concern that International Oil Companies (IOCs) are selling Nigerian crude oil to third parties instead of making it available and commercially viable for domestic refineries.

The Central Bank of Nigeria (CBN) has announced the removal of the cash pool requirement for export proceeds of International Oil Companies (IOCs), as conveyed in a circular from the Director of Trade and Exchange.

The Central Bank of Nigeria (CBN) has announced that International Oil Companies (IOCs) can now repatriate 100% of their export proceeds, a move aimed at boosting forex liquidity and market stability.