Hurray! You Can Now Start Depositing Foreign Currency Again Into Your Dorm Accounts

The Central Bank of Nigeria has been deploying different measures recently in a bid to curtail and stabilize the falling value of the Naira against major currencies especially to that of the greenback.

Though some of the measures recently deployed have rather caused untold hardship to bank customers and one of the measures was the temporal restriction of foreign exchange deposit into dorm account.

After few months that CBN temporary placed a restriction on the deposit of foreign currency into dorm account, we are glad to inform you that CBN has rescinded the decision and you can now go about again depositing foreign currency into your dorm account.

This was detailed in a statement issued by the CBN governor, Emefiele during press briefing yesterday at the CBN headquarters.

In addition to the lifting of foreign currency deposit into dorm account, we also learn that CBN has also stopped its weekly sales of foreign exchange to the licenced bureau de change operators in the country, and the CBN has given them the go ahead to source for foreign exchange other places but will still monitor their activities