Forex Market Devt on Cash Deposit into Dom Accounts

Forex Market CBN

In the continued effort to ensure the stability of the forex market in Nigeria, The Central Bank of Nigeria hereby inform the general public that with effect from 11th January 2016, holders of ordinary domiciliary account are now allowed to deposit foreign currency cash into their accounts.

Meanwhile, all authorized forex market dealers are required to ensure that proper KYC is conducted on their domiciliary account customers to prevent money laundering and other malpractices.

Following the announcement from the Central Bank of Nigeria (CBN) on foreign currency cash deposits, Nigeria News is pleased to inform you that Nigeria banks have resumed the acceptance of Foreign Currency deposits into domiciliary account(s).

Kindly visit any of your Bank Branches nationwide to make your foreign currency deposits from Tuesday, 12th of January, 2016.

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