Forex: CBN starts clearing forwards backlog
CBN building

Adebayo Obajemu

The Central Bank of Nigeria (CBN) has said it has given approval to Stirling Trust Company Limited to commence cash-in-transit operations in the country.

According to the apex bank, the approval which became effective from April this year, was just recently announced by the apex bank in a circular that was signed by the Director of Currency Operations Department, Ahmed B Umar, and addressed to all deposit money banks as well as all licensed CITs and CPCs in the country.

The circular also encouraged all respective stakeholders to “assist” Stirling Trust Company Limited in the discharge of their new duty. The circular said:

“Please be informed that Stirling Trust Company Limited has been granted approval by the Central Bank of Nigeria (CBN) to commence Cash-in-Transit operations in Nigeria with effect from April 23, 2020.

“kindly accord Stirling Trust Company Limited all necessary assistance in the discharge of their functions as Cash-in-Transit service provider.”

Stirling Trust Company Limited, which is a Lagos-based company incorporated in 1989, specialises in financial services, investment, logistics & human capital management services.

News continues after this Advertisement


Please enter your comment!
Please enter your name here