Cash deposits into domiciliary accounts will no longer be restricted, according to the Central Bank of Nigeria (CBN), and clients will have “unfettered and unrestricted access to funds in their accounts.”
The central bank published a statement following a meeting with the Bankers’ Committee on Sunday.
The purpose of the conference was to provide more guidance to deposit money banks (DMBs) on recent operational changes to the foreign exchange market, as well as to address the implementation and consequences of the policy changes for the banking public.
