No plan to convert dollar account holdings to naira, says CBN

The Central Bank of Nigeria (CBN) has assured the public that it will monitor the deposit money banks (DMBs) to ensure they comply

This came as the apex bank dismissed reports of the planned conversion of domiciliary account FX holdings proceeds to naira.

Each traveller is entitled to buy $4000 per quarter for personal travel allowance and $5000 per quarter for business travel allowance .In a statement, the Acting Director of Corporate Communications, Osita Nwanisobi, said the CBN had put in place a waterproof monitoring mechanism to guarantee the seamless sale of FX to customers, who supported their requests with relevant documentation.

He also dismissed the insinuations that the CBN planned to convert the foreign exchange savings in the domiciliary accounts into naira to check shortage.Nwanisobi said those spreading the claims were criminal speculators, who intended to create panic in the market.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

GuardianNigeria /  🏆 1. in NG

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.

Emmanuel Onyebeke: Stoppage of sales of FOREX to BDCs - Another courageous policy by CBNThe latest Central Bank of Nigeria's (CBN) decision to stop the sale of FOREX to Bureau De Change (BDC) operators due to the reported abuses that have
Read more »

Targeting Unemployment Through CBN InterventionsWe need to create jobs and the enabling environment for the young people to thrive and work,” governor of the Central Bank of Nigeria (CBN) Godwin
Read more »

FOREX: Ethnic Youth Leaders Back CBN Ban Of BDCsEthnic youth leaders have backed the decision of the Central Bank of Nigeria (CBN) to ban to the sale of forex to Bureau De Change (BDC) operators in the
Read more »

Forex supply: CBN assures customers of banks’ compliance - Punch NewspapersThe most widely read newspaper in Nigeria
Read more »

No plan to convert bank customers' foreign currency into naira, says CBNThe Central Bank of Nigeria has said it is not planning to convert the foreign exchange in domiciliary accounts of bank customers into naira.
Read more »

President Buhari Greets CBN Governor, Emefiele, At 60President Muhammadu Buhari has rejoiced with Mr Godwin Emefiele, Governor, Central Bank of Nigeria (CBN), as he turns 60 on Wednesday, August 4, 2021. The
Read more »