Forex supply: CBN re-affirms customers of banks’ compliance

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The Central Bank Of Nigeria (CBN), has informed the public that it has put in place monitoring measures to guarantee that deposit money institutions meet clients’ lawful foreign exchange needs.

The apex bank’s acting director in charge of corporate communications, Osita Nwanisobi, told business correspondents in Abuja that it had put in place a monitoring mechanism to ensure the seamless sale of foreign exchange to customers who supported their requests with relevant documentation.

Nwanisobi told business reporters in Abuja on Monday that the CBN has put in place a monitoring system to ensure the smooth supply of currency to clients who backed up their requests with appropriate paperwork.

He went on to say that the CBN had obtained assurances from the banks, via their CEOs, that clients with genuine requests would not be turned away.

He shot off claims that the CBN was planning to convert currency in clients’ domiciliary accounts into naira in order to address a perceived scarcity of dollars.

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