Apex bank lifts ban of dollar deposits

folarin okunola

January 13, 2016 4:25 PM

Godwin Emefiele, CBN governor, speaking in Abuja on Monday stated that the apex bank would also discontinue selling foreign exchange to Bureau De Change (BDC) operators.

Godwin Emefiele, CBN Governor

Reports reveal that the Central Bank of Nigeria (CBN) has lifted the ban stopping commercial banks from accepting foreign exchange cash deposits from their customers so as to put a stop to the growing foreign exchange crisis.

Godwin Emefiele, CBN governor, speaking in Abuja on Monday stated that the apex bank would also discontinue selling foreign exchange to Bureau De Change (BDC) operators.

READ: Nigerian currency slumps to 300 against the dollar

All of the above directive by the CBN have taken immediate effect.

According to the CBN governor, BDC operators will now have to get their foreign exchange from autonomous sources.

Emefiele also explained that measures will be put in place to ensure that no one violates the country’s anti-money laundering lawsl, adding that the apex ban would deploy more resources to closely monitor foreign exchange sources of BDCs.

folarin okunola

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