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CBN issues fresh guidelines for foreign currency deposits
28th June 2024

By Jide Ajia
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The Central Bank of Nigeria has issued new guidelines for Deposit Money Banks regarding the deposit of foreign currency notes.
This directive was detailed in a circular issued by the Director of Currency Operations, Mohammed Solaja, and posted on the bank’s website on Friday.
The CBN specified that each bank is allowed a maximum daily deposit of $10 million in USD 100 and USD 50 notes.
These deposits can only be made at the CBN branches in Abuja and Lagos.
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