CBN Halts Approvals for Export Proceeds Repatriation Extensions
<p>CBN has mandated 90-day and 180-day deadlines for oil and non-oil proceeds, eliminating extension approvals.</p>
<p>The post <a href="https://www.arise.tv/cbn-halts-approvals-for-export-proceeds-repatriation-extensions/">CBN Halts Approvals for Export Proceeds Repatriation Extensions</a> appeared first on <a href="https://www.arise.tv">Arise News</a>.</p>
The Central Bank of Nigeria (CBN) announced the immediate suspension of approvals for extensions on the repatriation of export proceeds, marking a significant step to enforce compliance with the country’s foreign exchange regulations.
In a circular dated January 8, 2025, and signed by Acting Director of the CBN’s Trade and Exchange Department, W.J. Kanya, the apex bank clarified that the directive applied to both oil and non-oil export transactions.
The move drew from provisions outlined in the Foreign Exchange Manual (Revised Edition, March 2018), particularly Memorandum 10A (23a) and Memorandum 10B (20a).
The statement added that exporters must adhere to existing timelines for repatriating export proceeds. Non-oil export proceeds must be repatriated within 180 days of the bill of lading date, while oil and gas export proceeds have a 90-day deadline. These timelines were now deemed non-negotiable.
The statement said, “With effect from the date of this circular, the Central Bank of Nigeria will no longer approve requests for extension of repatriation of export proceeds by Authorised Dealers on behalf of their customers. For the avoidance of doubt, proceeds of oil and non-oil exports are to be repatriated and credited into the exporters’ export proceeds domiciliary accounts within 180 days and 90 days from the bill of lading date for non-oil and oil and gas exports, respectively.
Accordingly, all Authorised Dealer Banks were required to draw the attention of their customers to the provision of extant regulation and ensure compliance.
The directive imposed stricter obligations on exporters and authorised dealer banks to comply with repatriation rules. Banks are now required to notify their clients about these updated regulations and ensure full compliance. The CBN also warned that failure to adhere to the guidelines could result in penalties or other regulatory actions.
The policy formed part of broader efforts by the CBN to enhance foreign exchange inflows and strengthen Nigeria’s foreign reserves.
<img src="https://www.mtlblog.com/media-library/pornhub-logo-on-a-computer-screen-illustrative.jpg?id=55275540&width=1200&height=800&coordinates=97%2C0%2C98%2C0"/><br/><br/><p>Canadians weren't afraid to mix things up in 2024! A new report has spilled the tea on the year's top adult content trends, and it turns out Canucks were into everything from old standbys to some very new tricks.</p><p>Pornhub has dropped its annual <a href="https://www.pornhub.com/insights/2024-year-in-review" target="_blank" rel="noopener">Year in Review for 2024</a>, and it's full of fascinating insights about what Canadians were searching for this year. Between "MILF" still holding strong and a spike in interest for terms like "dominant woman," Canadians definitely had their own unique flavour when it came to their favourite adult content.</p><p>Let's dive into the details and see what got Canadians all hot and bothered this year.</p><p><em>This article contains graphic content that might not be suitable for some readers.</em></p><h3>Canada's top turn-ons</h3><p>It's official: "MILF" is still the reigning search term champ in Canada. The acronym topped the search charts again this year, proving that Canucks have a lasting love for mature-themed content. </p><p>The second-highest search term was "hentai," followed by "Asian," which climbed up a spot from last year, knocking "lesbian" down to fourth place. Other popular searches included "anal" and "creampie," both of which rose slightly in the rankings.</p><p>Canadians weren't just sticking to the classics this year, either — they were also diving into some pretty niche searches and new trends, with the top trending search, "dominant woman," skyrocketing by a whopping +886%. Other trending terms included "big natural chubby" (+764%) and "really old MILF" (+657%). Looks like Canucks weren't shy about exploring some very specific niches this year.</p><p>When it came to categories, Canadians showed love for "Lesbian" content, keeping it at the top spot for another year. "MILF" also climbed into second place, bumping "Threesome" down to fourth. Meanwhile, the "Anal" category landed in third, with "Mature" rounding out the top five.</p><p>Canada also stood out globally with some unique viewing habits. The "Small Tits" category was viewed 82% more here than the world average, while "Virtual Reality" and "Red Head" also saw a noticeable uptick in popularity in the Great White North.</p><h3>How long we lasted</h3><p>On average, Canadians spent 10 minutes and 26 seconds per visit, placing us fourth worldwide for engagement time and well above the global average of 9 minutes and 40 seconds. Guess we're just too polite to leave without thoroughly enjoying ourselves, eh?</p><p>Women made up just 29% of Canadian traffic, trailing below the global average of 38% — and far behind the Philippines and Argentina, where women accounted for the majority of viewers at 59% and 51%, respectively. However, female visitors spent an average of 17 seconds longer per session than their male counterparts.</p><p>In terms of timing, Pornhub saw the highest traffic around 11 p.m. and midnight. Mondays were the most popular day to watch, while Fridays saw the biggest dip — perhaps folks were saving their energy for weekend plans?</p><h3>The big picture</h3><p>Globally, the most-viewed category of 2024 was "MILF," which jumped four spots compared to last year. Meanwhile, searches inspired by major events like the Paris Olympics and viral moments like "Hawk Tuah" kept things current.</p><p>While some trends were loud and proud, 2024 also saw a <em>very demure, very mindful</em> movement take centre stage, with Pornhub crowning "demure desires" as the number-one "search that defined 2024." Searches for terms like "demure" (+133%), "mindful pleasure" (+112%) and "modest MILF" (+45%) reflected a shift toward simpler, more <em>cutesy</em> content. </p><p>"It seems people may be pining for a simpler time — looking for things that are less complicated and maybe seeking out more meaningful experiences," said Dr. Laurie Betito, director of Pornhub's Sexual Wellness Center.</p><p>With increases in searches for terms like "ethical porn" (+92%), "respectful sex" (+61%) and "real authentic" (+39%), viewers were clearly leaning into content that felt more genuine and less performative.</p><p>So whether you're into exploring new trends or sticking to tried-and-true favourites, one thing's for sure — Canadians aren't very demure when it comes to keeping things interesting.</p><p><span></span><em>Love this? Check out our <a href="https://www.mtlblog.com/notices/" target="_blank" rel="noopener">MTL Blog noticeboard</a> for details on jobs, benefits, travel info and more!</em></p><p><em>AI tools may have been used to support the creation or distribution of this content; however, it has been carefully edited and fact-checked by a member of MTL Blog's Editorial team. For more information on our use of AI, please visit our <a href="https://www.mtlblog.com/editorial-standards" target="_blank" rel="noopener">Editorial Standards page</a>.</em></p>
