CBN Issues Fresh Guidelines For Foreign Currency Deposit
CBN directed that each bank would be allowed a maximum deposit of $10 million threshold for USD 100 notes and USD 50 notes daily.
By Ignatius Igwe
The Central Bank of Nigeria (CBN) has issued fresh guidelines to Deposit Money Banks (DMBs) on the deposit of foreign currency notes with the apex bank.
This directive was contained in a circular issued by the Director of Currency Operators, Mohammed Solaja and posted on the bank’s website on Friday.
CBN disclosed that each bank would be allowed a maximum deposit of $10 million threshold for USD 100 notes and USD 50 notes daily, saying such foreign currency deposits can only be made at the CBN branches in Abuja and Lagos.
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