The CBN also directed banks to set up teller points to meet legitimate forex requests.......................................
“In addition all Deposit Money Banks are hereby directed to henceforth stop accepting instructions from customers to transfer capital deposit of N35 million to the designated CBN account for the purpose of applying for BDC licenses.Meanwhile, the CBN has directed all Deposit Money Banks to set up teller points at designated branches across the country to fulfill legitimate forex requests.
The directive was contained in a memo by the CBN to the deposit money banks and signed by the Director, Bank Supervision Department of the apex bank, on Wednesday. “In this regard, DMBs are also required to adequately publicise the locations of the designated branches and make necessary arrangements to sell FX to customers in cash and/or electronically in compliance with extant regulations.“DMBs are strongly advised to ensure that no customer is turned back or refused FX provided that documentation and all other requirements are satisfied.
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