The Central Bank of Nigeria has finally lifted the ban stopping commercial banks from accepting cash deposits of foreign exchange from customers.
This announcement was made by the CBN governor, Godwin Emefiele, in Abuja on Monday, saying that the new directive takes immediate effect.
He added that the CBN discontinue its sales of foreign exchange to Bureau de Change (BDC) operators.
He stressed further that BDC operators will now have to source for their foreign exchange from autonomous sources.
Emefiele disclosed measure will be put in place so that no operator violate the country’s anti-money laundering laws, stating the CBN would deploy more resources to monitor closely the sources of foreign exchange by the BDCs.
He said: “These measures are not intended to be punitive on anyone or any group,” the CBN governor explained.