Friday, December 2, 2016

Domiciliary Account Foreign Transfers Is Now Limited To Just 10,000 USD Per Month - CBN

   
   
On December 1st, commercial banks in Nigeria commenced the implementation of of Central Bank of Nigeria (CBN) directive to limit foreign transfers from Domiciliary accounts to $10,000 per month. This move is one the numerous regulations introduced in the banking sector recently to improve the sector in many areas especially security wise.
dollar to naira
Domiciliary account is a bank account operated in foreign currency such as US Dollars, Euros, and Pounds. It is the wisest way to get payments foreign currency and sell it to Northerners at abokifx rate instead of official CBN interbank rate which is lower. To know more about Domi account and how to open it in Nigeria, click How To Open Domiciliary Account in Nigeria

Below is an mail sample sent by Stanbic IBTC Bank PLC to her customers pertaining the change.

Esteemed Customer,
Thank you for banking with us.
We write to inform you that foreign transfers from domiciliary accounts on the back of funding through cash deposits is now restricted to a maximum of Ten Thousand Dollars ($10,000) monthly per customer. This adjustment applies to all customers irrespective of the number of accounts operated and will take effect from 01 December, 2016.

However we will continue to accept cash deposits to domiciliary accounts in line with subsistent regulatory guidelines.

For further enquiries on this revision as well as our bouquet of products and services, please call 01 270 9676, email CustomerCareNigeria@stanbicibtc.com or visit the branch nearest to you.

Yours Sincerely,

Stanbic IBTC Bank PLC
From the message, it's clear that Domiciliary account continues to exist and function in the country just that, there are some limitations now unlike before.
   
   
   
Get Our Hottest Updates via SMS. Kindly SMS FOLLOW WIZYTECHS to 40404. On Any Network. It Is Totally FREE. Download Our Android App From Playstore HERE
 photo advertise_zpsc0xqwzbf.gif
To Submit Your Guest Post Or Sponsored Article, Click HERE For More Info
wizytechs blog-bg
   
   

SHARE THIS

Author:

WizyTechs Is A Top Tech Blog That Provides Affordable Browsing Solutions, Latest Smartphone Reviews, Tweaking Guides, How TOs, Business Tips, Blogging Tricks And Overall Optimization Of Your Phone/PC For Better Performance. Continue Visiting This Blog For Latest Free Browsing Updates. Join Our Social Media Platforms Below

Get Browsing Tips Today From Wizy
Follow us:
facebook twitter gplus pinterest rss

1 comment:

PLACE YOUR COMMENTS HERE