Guidelines for Crossborder Arrangements
About this Guidelines
The Guidelines for Cross Border Arrangements is divided into four (4) sections.
Section one is the preamble while section two addresses eligibility, provisions of PRA 2004, foreign employees in Nigeria, Nigerians working abroad, Nigerian employees moving abroad, Nigerians returning from foreign employment. Section three addresses rules of general application, administrative rules, requirements for contributors, exchange rate rules, taxation rules, money laundering rules. Section four deals with the mode of contribution, approved currency, percentage contributions, overseas remittances, and withdrawals.
The requirements of these Guidelines are consistent with the provisions of the Pension Reform Act, 2004 and are also considered enforceable within the industry.