TOP STORY: CBN lifts restriction on $10k deposit for domiciliary account holders | TheCable
June 18, 2023 7:37 PMThe Central Bank of Nigeria says cash deposits into domiciliary accounts will not be restricted, and customers “shall have unfettered and unrestricted access to funds in their accounts”.
This, the apex bank said, would discourage speculation, enhance customer confidence and ensure overall stability in the FX market; adding that more guidance would be conveyed to authorised dealers and the general public in due course. “DMBs shall ensure expeditious processing of all eligible invisible transactions on behalf of their customers using the applicable rate at the I&E window.“Ordinary domiciliary account holders shall have unfettered and unrestricted access to funds in their accounts. Domiciliary account holders are permitted to utilise cash deposits not exceeding $10,000 per day or its equivalent via telegraphic transfer.
“The CBN will prioritise orderly settlement of any committed FX forward transactions as they fall due in order to further boost market confidence.”
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING: CBN lifts restriction on $10k deposit on domiciliary accounts | TheCableThe Central Bank of Nigeria (CBN) says cash deposits into domiciliary accounts will not be restricted, and customers 'shall have unfettered and unrestricted access to funds in their accounts'.
Read more »
Newspaper Headlines: IMF backs CBN's exchange rate unification policy | TheCableThe International Monetary Fund (IMF) has announced the backing of the exchange rate unification of the Central Bank of Nigeria. This is as Asari Dokubo, the Niger Delta activist, accused the military of being behind oil theft in the region.
Read more »
Domiciliary Account: CBN Lifts Restriction On Deposit, WithdrawalThe Central Bank of Nigeria (CBN) has said cash deposits into domiciliary accounts will not be restricted, and customers “shall have unfettered and
Read more »
CBN lifts cash deposit restriction on domiciliary accounts, allows $10,000 daily withdrawalsThe CBN disclosed this in a press statement after deliberating at an extraordinary Bankers’ Committee meeting
Read more »
Oil theft allegations: Produce names of those involved, navy dares Asari Dokubo | TheCableThe Nigerian Navy has reacted to allegations by Asari Dokubo, ex-Niger Delta militant leader, that some cabals in the military are involved in oil theft in the region. Speaking with
Read more »
Seyi Gambo: How Kaduna government annexed FGC land in Malali | TheCableSeyi Gambo is the president of the old students association of Federal Government College Malali, Kaduna state. In this interview, he speaks on the battle to reclaim the school land
Read more »