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The bankers' committee, on Thursday, announced plans to begin the sale of foreign exchange to customers through the platform of the...

Punch Newspapers Sections Published 17 June 2021 Nigerians travelling abroad can access a maximum amount of $4,000 foreign exchange from the banks following the Central Bank of Nigeria’s announcement to increase forex supplies. Sources from some of the banks said those travelling on business trips could also access a maximum amount of $5,000 for each trip. The CBN had said in a recent statement that it had concluded plans to increase the amount of foreign exchange allocated to banks to meet legitimate needs. This followed the warning by the CBN Governor, Mr Godwin Emefiele, to Deposit Money...

Punch Newspapers Sections Published 7 June 2021 The Central Bank of Nigeria said it has concluded plans to increase the amount of foreign exchange allocated to banks to meet the requests of customers seeking forex for travel allowances, payment of tuition and medical fees, among other invisibles. This followed the warning by the CBN Governor, Mr Godwin Emefiele, to Deposit Money Banks to desist from denying customers the opportunity to purchase foreign exchange for several purposes. The purposes include Personal Travel Allowance, Basic Travel Allowance, tuition fees, and medical payments as w...

CBN increases forex allocations to banks, to ensure liquidity for invisibles Business