CBN warns banks against Hoarding Forex
Posted: 25/May/2018

Central Bank of Nigeria (CBN) on Wednesday warned banks against refusing to sell foreign exchange to clients who needed it for invisibles.

According to a statement by CBN Spokesman, Isaac Okorafor, customers who are thus refused foreign exchange should report to CBN for immediate action.

“CBN has gathered that some banks are turning back customers that come to purchase BTA/PTA and forex for pilgrimage.
 
“We hereby appeal to bank customers to go straight to their banks to buy forex as the CBN has supplied enough forex to the Banks to meet needs in the invisibles segment.

“Customers are hereby enjoined to report any bank that refuses to attend to their legitimate demand within 24 hours. Please, call 07002255226.

By: Sanya Adejokun
Tribune News

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