CBN to Make Commercial Banks Be On a 24 Hour FX Sale

The Central Bank of Nigeria says it will direct commercial banks to sell business and personal travel allowances to retail customers within 24 hours of filing a demand request.

This follows complaints that some banks are delaying the sale of fx to retail customers in contrast to the new forex policy issued by the CBN recently.

The apex bank also says that banks would be compelled to open forex transaction compartments in all branches across the country, to enhance the ease of forex transactions to Nigerians.
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