The Central Bank of Nigeria, headed by the CBN Governor, Godwin Emefiele, has taken to its official twitter handle, @cenbank, to make an announcement which concerns people who have bank accounts domiciled in Nigeria.
If you have bank account with any bank in Nigeria, this CBN announcement is for you.
The announcement was made for the purpose of clarification, and to ensure the stability of the foreign exchange market in the country.
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The announcement was contained in a letter from the Central Bank of Nigeria. As retrieved from the official twitter handle of CBN, @cenbank, here are excerpts from the letter:
“Following different interpretations on the operationalization of domiciliary accounts and to ensure stability of the foreign exchange market, the Central Bank of Nigeria (CBN) would like to provide the following clarifications.
“Export Proceeds Domiciliary Accounts
These accounts will continue to be operated based on existing regulations which allow account holders use of their funds for business operations only, with any extra fund sold in the Investors’ and Exporters’ Window”.
Read further details of the announcement in the letter below.
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