The Central Bank of Nigeria (CBN) has directed Money Deposit Banks to henceforth process and meet the demand for dollars and other foreign currencies within 48 hours.
In a circular made available to journalists, on Sunday in Abuja, the Director, Financial Markets Department,CBN, Dr Alvan Ikoku said the order would further make foreign currencies readily available to end users.
Ikoku said that banks have been directed to process and meet the demand for personal and business travelling allowances by customers within 24 hours of application.
For school fees and medical bills, the apex bank said that the commercial banks were to meet demand within 48 hours.
Ikoku said that non-compliance with these directives would attract sanctions, including but not limited to being barred from all future CBN foreign exchange interventions.
Ikoku said that banks have been directed to process and meet the demand for personal and business travelling allowances by customers within 24 hours of application.
For school fees and medical bills, the apex bank said that the commercial banks were to meet demand within 48 hours.
Ikoku said that non-compliance with these directives would attract sanctions, including but not limited to being barred from all future CBN foreign exchange interventions.
“In order to further ensure availability to end-users, all banks are hereby directed to open teller points in all locations in order to ensure access to foreign exchange by their customers without any hindrance.
“They are to have electronic display boards in all their branches, showing rates of all traded currencies,” he said. (NAN).
When is this dollar going to come down. Imagine you cannot buy anything without spending up to N5,000 per item. Imagine buying shoes for N15,000 instead of N8,000.
ReplyDeleteabeg this recession should go jare
Are you guys aware Kemen slept on the bed first. TBoss joined him later COMPLETELY NAKED. What exactly was she looking for? And by the way, when she changed position on the bed according to the video, she never queried Kemen for 'fingering' her neither did she give a disapproving look. This is the same TBoss that even when you greet her good morning she looks 'surprised' like is it morning? I feel there is a negative power around that girl. Get close to her at your peril. A lot of times she looks lost as if she is communicating with some unseen people
DeleteImagine keeping this nonsense out of this blog and quietly buying shoe & wearing it without letting the world know how much it costs
DeleteAbeg let it not come down oo. Bringing back dollars soon
DeleteGood news
ReplyDeleteGood
ReplyDeleteOmo na God sure pass
ReplyDeleteMc pinky
Wait is he the same Alvan Ikoku college of Education?
ReplyDeletePls let me understand this in simple terms that actually concerns me. Does this mean that they would increase the $100 online limit?
ReplyDeleteI pray ooo... That $100 ish don too spoil business for me biko
DeleteGoodnews
ReplyDeleteThey need to enable ATM card forex withdrawal
ReplyDelete