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CBN Lifts Ban on Forex Deposit Transfer in Domiciliary Accounts

CBN3

Account holders can now transfer Foreign Currency Cash deposits made into their domiciliary accounts via Internet Banking, Mobile App or at any branch nationwide.

Amount to be transferred is however subject to a daily cumulative limit of $10,000.

The new policy has been communicated to bank customers.

In the latter part of 2015, the Central Bank of Nigeria, CBN, had banned cash deposit into domiciliary accounts.

removal of restrictions on fcy deposits

This post was last modified on January 17, 2016 6:34 AM

Categories: BANKING
Haruna Magaji: Haruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at - harunamagaji@financialwatchngr.com
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