CBN Lifts Ban On Foreign Exchange Deposits, Stops Sale Of Forex To Bureaux De Change

Mr.-Godwin-Emefiele-OnoBello Mr. Godwin Emefiele 

The Central Bank of Nigeria (CBN) has lifted the ban on foreign currency deposits into domiciliary accounts.

CBN Governor, Mr. Godwin Emefiele in a press conference yesterday, confirmed that customers can now pay foreign currencies in cash into their bank accounts.

The CBN also formally announced that it has stopped the sale of Foreign Exchange (Forex) to Bureaux de Change (BDCs) as part of measures to reduce the pressure on the nation’s foreign reserves.


Find below the statement and circular issue to that effect.


Press-Release-CBN-to-stop-Dollar-Sales-to-BDCs-January-2016-page-001 Press-Release-CBN-to-stop-Dollar-Sales-to-BDCs-January-2016-page-002
Press-Release-CBN-to-stop-Dollar-Sales-to-BDCs-January-2016-page-003 Press-Release-CBN-to-stop-Dollar-Sales-to-BDCs-January-2016-page-004
Press-Release-CBN-to-stop-Dollar-Sales-to-BDCs-January-2016-page-005 Press-Release-CBN-to-stop-Dollar-Sales-to-BDCs-January-2016-page-006
Press-Release-CBN-to-stop-Dollar-Sales-to-BDCs-January-2016-page-007 Press-Release-CBN-to-stop-Dollar-Sales-to-BDCs-January-2016-page-008
Press-Release-CBN-to-stop-Dollar-Sales-to-BDCs-January-2016-page-009 Scanned-from-a-Xerox-Multifunction-Device-page-11


Source: The Will|Vanguard 





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