CBN DIRECTS DEPOSIT MONEY BANKS TO OPEN TELLER POINTS FOR FOREX TRANSACTIONS

The central bank of Nigeria has of today directed all deposit money banks to set up teller points at different branches of their banks to cater to customers that want to buy and sell forex for legitimate reasons which was contained in a memo sent to all banks signed by the Director, Bank Supervision Department of the CBN, today in Abuja.

Godwin Emefiele, CBN Governor

 They also asked the banks to adequately  publicize the designated branches of theirs that this services will be available and make proper arrangements to sell forex to customers in cash and/or electronically. The memo also made it known that that a toll-free line had been set up at the CBN for bank customers to escalate unresolved complaints related to their FX requests

This directive is coming on the shoulder of an earlier announcement by the CBN governor, Godwin Emefiele on the 27^th of July  saying it will stop selling forex to bureau de change operators accusing them of unwholesome practices and now being agents that facilitate graft and corruption in the country.

Written by BoomRadioNG