The Central Bank of Nigeria (CBN) has on Sunday revealed there is no ban placed on deposits into domiciliary accounts.
Isaac Okorafor, Director, Corporate Communications, CBN clarified in a statement on Sunday, the confusions surrounding domicialry accounts.
“The bank has not prohibited the acceptance of foreign currency cash deposits by Deposit Money Banks.”
“Only electronic fund transfers into domiciliary accounts can be transferred from such accounts while cash deposits into such accounts can only be withdrawn in cash also.”
Okorafor advised stakeholders and other parties to always seek clarifications before sending false information to people.
(C) Control TV 2020.
