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CBN directs banks to close naira ledger accounts for IMTO

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CBN directs banks to close naira ledger accounts for IMTO

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The Central Bank of Nigeria (CBN) has directed banks in the country to close all naira ledger accounts opened specifically for the purpose of receiving proceeds from international transfer (IMTO) with immediate effect.

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In a related , WITHIN NIGERIA had reported that the Central Bank of Nigeria has announced that beneficiaries of diaspora remittances through the international monetary transfer operators (IMTO) shall now such inflows in foreign currency (US Dollar) through the designated bank of their choice.

This was contained in a statement signed by the director of trade and exchange of CBN, O.S. Nnaji.

The director said recipients of such remittances may have the option of receiving these funds in foreign currency cash or into their domiciliary account.

The post CBN directs banks to close naira ledger accounts for IMTO appeared first on Within Nigeria.

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Aminat Aigbe

Aminat Aigbe is the first lady of afronaija and a very good blogger ( Original Mrs AfroNaija )

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