The Central Bank of Nigeria (CBN) is in the process of automating the issuance of Certificate of Capital Importation (CCI) so that all issuance will be done in electronic format. Customers will be profiled with login details to enable them access the electronic platform and view the status of the CCIs.
Certificate of Capital Importation (e-CCI) Application
The e-CCI application takes care of all processes within the lifecycle of the CCI. These include issuance, mark-up, markdown, divestment, reinvestment, cancellation, amendment, transfer, Global Depository Receipt (GDR) creation and securities lending. The e-CCI application server will be maintained by the Central Bank of Nigeria. Hence the apex bank will have an oversight function and users across the banks will be connected to it.
Benefits of the e-CCI include:
No more worries over safe-keeping physical CCIs.
No more cases of lost CCI in transit (as a result of mishandling) or damage from fire outbreaks.
Easy tracking of investments across the banks as users will be able to access their investments using a unique identifier.
Transfer and indemnity letter to other banks will be done online; thereby improving turn-around-time.
Requests requiring CBN’s approval will be sent online and status can be easily tracked.
Drastic reduction in paper usage.