CBN ROLL OUT FOREIGN CURRENCY CASHOUT POLICY IN NIGERIAN BANKS

The Central Bank of Nigeria today rolled out a policy that allows cash out of foreign currency in all commercial banks in Nigeria. In case you need to cash your remitted foreign currency from anywhere around the world, you do not need to worry about any bank hasstle anymore. All you need to do is to just walk into the banking hall and receive your foreign currency in cash hassle free, no restrictions. 

This new directives is a light for business owners who majorly operates in foreign currency, foreign students also will be a benefactor of the new CBN policy. Christmas gives an opportunity to be happy with Friends and families and that’s why this new CBN policy alert gives an opportunity to get foreign currencies in cash over the counter at commercial banks or into direct domiciliary account.

The Good news is that one can now have unrestricted access to receive foreign currencies (Dollars, Pounds, Euros and other foreign currencies) that are sent from abroad in cash or into direct domiciliary account. Initially, the process was restricted to some few individuals but not that the policy has been restructured, it's widely available for the general populace.