We Didn’t Ban Acceptance Of FX Deposits Into Domiciliary Accounts – CBN

We Didn’t Ban Acceptance Of FX Deposits Into Domiciliary Accounts – CBN

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Post Views: 154 The Central Bank of Nigeria (CBN), on Sunday, said there is no truth in insinuations that it has prohibited the acceptance of foreign ...

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The Central Bank of Nigeria (CBN), on Sunday, said there is no truth in insinuations that it has prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks in the country.
Speaking with newsmen in Abuja, CBN’s Director, Corporate Communications Department, Issac Okorafor, however, explained that “Only electronic fund transfers into Domiciliary accounts can be transferred from such accounts while cash deposits into such accounts can only be withdrawn in cash also.”
Okorafor, therefore, urged stakeholders and other interested parties to always endeavour to seek clarification on issues and avoid speculative tendencies which are detrimental to the financial system.

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