Do we have to open Form M to do Telegraphic Transfer (TT)?

Do we have to open Form M to do Telegraphic Transfer (TT)?
January 6, 2020 Kelechi Okekeghe

Yes. All wire transfers (Domiciliary Transfers & Form Q) for purchase of goods will be supported by Form Ms. going forward. In the case of transfer for purchase or importation of an item categorized as Non-valid for forex by CBN (42 items), CBN approval will be an additional documentation with the Non-Valid Form M.