The Central Bank of Nigeria has ordered the Deposit Money Banks to set up teller points at designated branches to provide forex to Nigerians.Re: Teller points at bank branches for the sale of FX to retail customers
, which was signed by the Director, Banking Supervision Department, CBN, Haruna Mustafa, on Wednesday. After the Monetary Policy Committee meeting in Abuja on Tuesday, the CBN announced the immediate discontinuity of forex sales to the Bureau De Change operators in the country. The circular read, “Further to the Monetary Policy Committee briefing of July 27, 2021, all Deposit Money banks are hereby reminded to set up teller points at designated branches across the country to fulfil legitimate FX request for Personal Travel Allowance, Business Travel Allowance, tuition fees, medical payments, SMEs transactions among others.
“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.
Which banks? Pls ask him how many customers that he sold forex to when he was Zenith Bank MD? Nigeria is jumping from frying pan into fire!
Confused company 😡
Invest in the USD if you're wise, this administration will continue to create policies to make the USD stronger, USD rate official/parallel was 197/230 in 2015 when they took over, today it's 410/520.
The level of confusion with Emefiele and Buharis govt is worthy of urgent psychiatrist attention.
Nothing changed because BDC and banks are working together except there's proper monitoring by cenbank and anti-graft agencies. We are at square one.
I think CBN can reverse their policy of not giving money to BDCs, they can give them but not at that unbelievably cheap rate that makes them make millions of naira per week. CBN can give them their weekly allocation with a margin of N2 at most. It's ok if they make 100k per $10k
No direction at all with financial policies because offices there are being occupied by incompetent abokis
Emefulefu is just busy dishing Garba Shehu/Arewa's orders to the detriment of Nigerians. When last did CBN gave Agric loan or SME loan zero interest after SURE-P? Gov of Economic Disaster is personified in Emefulefu cenbank
This is strategy Egypt used to arrest thier Dollar/Egyptian pounds disparity. Good move. We pray for its sustainability.
This is sign that Nigeria about to break up go and change your naira to dollars YorubaNationNow oduduwanationnow
Story
link not opening ooo
Banks that are crooks
Na today this order was passed. No banks ever sells dollars, they will voraciously buy
If CBN can liscence BDCs why can't they regulate them also. Magomago govt.
BDCs will still be the ones buying off to hoard. REVOKE LICENSES OF BDCs!
They said CBN has a toll free hotline for FOREX customers. Please help us with that. Thanks
Na only una Waka come
Hmmm.
Nice!!!!
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