Economy

BREAKING: CBN relaxes major restriction on domiciliary accounts

The Central Bank of Nigeria (CBN) says cash deposits into domiciliary accounts will not be restricted, and customers “shall have unfettered and unrestricted access to funds in their accounts”.

The bank spoke in a statement issued after a meeting with the bankers’ committee on Sunday.

The meeting was meant to provide further guidance to deposit money banks (DMBs) on the recent operational changes to the foreign exchange market and to discuss the implementation and implications of the policy changes for the banking public.

More details to to follow…

Raufu Musliyu

Raufu Musliyu is the Editor-in-Chief of News Flash Media Service. He is a PhD Student of Al-Hikmah University, Ilorin in the field of Mass Communication. Musliyu holds Masters of Science (M.Sc) Degree in Mass Communication majoring in Public Relations/Advertising. He also holds Bachelor of Science (B.Sc) and Higher National Diploma (HND) in Mass Communication. The Editor-in-Chief also bagged Post-Graduate Diploma (PGD) in Public Relations. He is an Associate of Nigeria Institute of Public Relations (NIPR) and Advertising Regulatory Council of Nigeria (ARCON). Musliyu is the Head of Corporate of Affairs & Administration of Abdulrauf Jimoh & Co.

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