In a circular on Sunday in Abuja, the Director, Financial Markets Department of the CBN, Dr. Alvan Ikoku, said the order would further make foreign currencies readily available to end users.
For More:Visit Us at Uju Ayalogu's Blog
Ikoku said that banks have been directed to process and meet the demand for personal and business travelling allowances by customers within 24 hours of application.
For school fees and medical bills, the apex bank said that the commercial banks were to meet demand within 48 hours.
Ikoku said that non-compliance with these directives would attract sanctions, including but not limited to being barred from all future CBN foreign exchange interventions.
He said: “In order to further ensure availability to end-users, all banks are hereby directed to open teller points in all locations in order to ensure access to foreign exchange by their customers without any hindrance.
“They are to have electronic display boards in all their branches, showing rates of all traded currencies.”
Are you an artiste? Do you want your music to go viral and reach a large number of audience? Promote your music and Submit your story on Ujuayalogusblog.com by clicking here. For Advert Inquiries Tele/+44(0)7590363984 Subscribe to Ujuayalogusblog.com News!
ALL RIGHTS RESERVED. 2015-2017 @ Uju Ayalogu's Blog NIGERIAN NEWS
For More:Visit Us at Uju Ayalogu's Blog
No comments:
Post a Comment