The Central Bank of Nigeria (CBN) has eased the stress of all intending travellers by mandating all money banks to sell foreign currency over the counter with the presentation of passports and air tickets.
While giving the order in a statement issued by its acting director of corporate communications, Isaac Okorafor on Saturday evening, the apex bank also ordered BDCs to access dollars every Monday, Wednesday and Friday henceforth.
The Statement:
“In order to ensure that eligible travelers are able to access foreign currency and make liquidity available in the market, the CBN wishes to make the following releases:
“All Deposit Money Banks are mandated to buy and sell foreign currency to travelers ( both customers and non customers) upon presentation of relevant valid travel documents such as visa and tickets OVER THE COUNTER. All travelers shall be attended to immediately at the bank’s counters. Any contravention will be sanctioned by the CBN.
“All BDCs shall henceforth Access dollars from the CBN on Monday’s , Wednesday s and Fridays. It is compulsory that all BDCs Access Currency at least three times weekly. Any BDC that fails to access the FX window at least three times weekly shall have their license reviewed by the CBN. Compliance is Compulsory.”
The naira has maintained some stability in the last one year after the central bank liberalised the currency market.
 has eased the stress of all intending travellers by mandating all money banks to sell foreign currency over the counter with the presentation of passports and air tickets. While giving the order in a statement issued by its acting director of corporate communications, Isaac){kind=link}