According to the Director , Corporate Communications, CBN , Isaac Okorafor, the Central Bank of Nigeria did not prohibit the acceptance of foreign currency cash deposits by Deposit Money Banks.
In a statement released on Sunday, Okorafor clarified the uncertainties surrounding the operations of domiciliary accounts in Nigeria.
He said, “ 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into domiciliary accounts can be transferred from such accounts while cash deposits into such accounts can only be withdrawn in cash also .”
