CBN Give Banks New Instructions Ontop Selling Of Forex - BBC

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CBN give banks new instructions ontop selling of forex
If BDC no get access to forex, dem fit run out of business

Wia dis foto come from, CBN

Wetin we call dis foto, If BDC no get access to forex, dem fit run out of business
29 July 2021

Di Central Bank of Nigeria (CBN) don order Nigerian banks to make arrangement to begin sell forex give customers and not delay or refuse anybodi.

Dis order dey inside one 28 July communiqué wey di apex banks send give all banks for Nigeria.

"Today (29 July) di CBN even issue announcement say new BDC license applications fit collect dia registration money back (N35m)".

E go now proof say CBN no dey go back on dia plan to make banks di only official place wia pipo fit buy foreign currency.

Kontinu to dey read

Two days earlier, on Tuesday CBN say dem go stop to dey sell foreign currency give Bureau De Change (BDC) operators.

Bureau De Change operators na companies wey get licence from CBN to officially trade and change currency for pipo. Di oda institution wey get dis right na banks.

Di BDC operators wey BBC Pidgin follow tok on Wednesday say dem no believe say CBN go run dem out of business because dem too plenty - over 5000 licence owners, according to CBN demsef.

CBN new instructions to all Nigerian banks include:

Skip Di one wey oda users dey read well well and continue readingDi one wey oda users dey read well well
  • L - Kwabena Agyepong, next Dr Bryan Acheampong, next Kennedy Agyapong, next Dr Osei Adutwum and finally Dr Bawumia Who dey contest wit former Vice president Bawumia for di opposition flagbearer election for Ghana
  • Bola Tinubu shaking Recep Tayyip Erdoğan Turkey to train Nigeria Special Forces against Boko Haram and oda highlights of President Tinubu visit to di kontri
  • Foto of protesters for Onitsha main market and Anambra state governor Charles SoludoCall for Nnamdi Kanu release spark fresh protest between Anambra traders and govnor Soludo
  • Diezani Alison-Madueke arrive for Southwark Crown Court on 26 January. She dey look di camera, as she wear blue scarf and brown hatEx-Nigeria oil minister for bribery trial spend £2m for Harrods, court hear

End of Di one wey oda users dey read well well

  • Banks to setup tellers for special branches across di kontri to process foreign currency request
  • Banks to process all legitimate request like Personal Travel Allowance (PTA), Business Travel Allowance (BTA), school and medical fees, company transactions and odas.
  • Banks must inform di public wia dia foreign currency branches dey
  • Banks must ready to sell foreign currency in form of cash and/or electronic tranfer
  • CBN advice banks not to refuse any customer forex as long as dem meet requirement
  • CBN ask banks not to cause delays, ration and/or divert foreign currency
  • Banks must get electronic application wey go update customers of dia forex transcation

CBN also warn banks say dem go monitor dem to see who and who comply. And say make banks no forget say dem don setup toll free phone numbers for customers to use complain about bank forex service.

Any bank wey offend go chop serious sanction, according to di statement Banking Supervision Department of CBN.

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Another thing we de for inside dis tori

  • Price of US dollar no change immediately afta di ban but operators say dis no go last

    CBN forex ban on BDC go make Dollar strong, Naira weak - Operators

    28th July 2021
  • CBN Governor, Godwin Emefiele

    CBN ban sales of dollars, oda foreign exchange to Bureau De Change operators

    27th July 2021
  • CBN Govnor Godwin Emefiele

    Why CBN, Nigerian banks want you to pay for USSD charges

    17th March 2021
  • CBN "Naira 4 Dollar Scheme": Central Bank of Nigeria Dollar to Naira new policy explained

    Wetin CBN "Naira 4 Dollar Scheme" mean?

    8th March 2021

Top Tori

  • 'I dey lose millions of naira evriday' - Trader tok how shutdown of Onitsha market dey affect business

    3 hours wey don pass

  • Who dey contest wit former Vice president Bawumia for di opposition flagbearer election for Ghana

    4 hours wey don pass

  • Turkey to train Nigeria Special Forces against Boko Haram and oda highlights of President Tinubu visit to di kontri

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  • US First Lady Melania Trump at di New York Stock Exchange (NYSE) for New York, US, on Wednesday, Jan. 28, 2026. Di first lady dey ring di opening bell for di New York Stock Exchange, as di White House dey tok about her achievement for di past year, including online child safety protections and support for young pikin wey dey come out from foster care.

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    'University students gatz declare status or forgo UTME registration' - Jamb

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    I accuse one police officer say e rape me, but na me end up on trial

    27th January 2026
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    Who be IShowSpeed and why e dey tour Africa?

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Di one wey dem dey read well well

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  3. 3Call for Nnamdi Kanu release spark fresh protest between Anambra traders and govnor Soludo
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