CBN orders banks to open teller points in all branches
6 March 2017 Business
As part of efforts to further increase foreign exchange liquidity in the market and ensure availability, the Central Bank of Nigeria, CBN, has directed banks to open teller points in all their branches.
According to a statement released and signed by the Director, Financial Markets Department, CBN, Alvan E Ikoku, all banks are also directed to have electronic display boards in all their branches to show rates of all traded currencies and processes as well as to meet the demand for personal travel allowance and basic travel allowance by customers within twenty-four hours of such applications.
The apex bank however threatened to bar authorized dealers in foreign exchange that fail to comply with its new directive on foreign exchange transactions.