Thursday, April 22, 2021

CBN directs banks to pay customers dollar in cash

Headline

Avatar
Jaafar Jaafarhttps://dailynigerian.com/
Jaafar Jaafar is a graduate of Mass Communication from Bayero University, Kano. He was a reporter at Daily Trust, an assistant editor at Premium Times and now the editor-in-chief of Daily Nigerian.
tiamin rice

The Central Bank of Nigeria has directed all banks to pay cash over-the-counter to desiring foreign exchange customers.

Spokesman of the CBN, Isaac Okorafor, said the directive was issued to further ease access to foreign exchange.

Mr Okoroafor said the apex bank had also released the sum of $240m to meet genuine demands from users of foreign exchange.

READ  Buhari’s campaign train moves to South East, departs for Anambra, Enugu

According to him, CBN had released $90million of the amount to meet requests for invisibles such as business and personal travel allowances, as well as medical and school fees.

READ  N2.5bn debt: Court orders CBN, 3 other banks to disclose ABU’s credit balance

He added that the balance of $150m was offered to authorised forex dealers in the interbank wholesale auction window.

Mr Okorafor also disclosed that the apex bank had adjusted the sale of forex to the Bureau De Change operators to Tuesdays only in order to reduce logistical difficulties.

He added that henceforth, the CBN would sell $10,000 only to low-end forex dealers once a week.

While urging the banks to oblige the genuine requests of customers, he advised customers to report any uncooperative bank to the CBN through available platforms.

READ  Reps summon Emefiele, Attahiru over arms purchase

The CBN has since the beginning of last month made offers and releases to the interbank foreign exchange market in its bid to sustain forex supply to different categories of users.

READ  Anchor Borrower: CBN to empower 5,016 maize farmers in Plateau

Subscribe to Our VIP Newsletter

[newsletter_signup_form id=1]
-->

Related News

Latest News

cosgrove