CBN Clarifies Position on Converting Foreign Currency on Domiciliary Accounts to Naira

CBN Clarifies Position on Converting Foreign Currency on Domiciliary Accounts to Naira …C0NTINUE READING HERE >>>

The Central Bank of Nigeria (CBN) has said it did not restrict domiciliary account holders from converting their funds to nairaThe bank disclosed that all conversions must be fully disclosed and reported as part of the bank’s exchange rate requirementsCBN’s new guidelines allow foreign currency holders in the diaspora and Nigeria with offshore accounts full access to trade-eligible currencies

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