Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/LAB/14/052

Title: RE: Teller Points at Bank Branches for the Sale of FX to Retail Customers

Summary: Financial institutions in Nigeria are required to set up teller points at designated branches across the country for the sale of foreign exchange (FX) to retail customers. They must publicize the locations of these branches and sell FX in cash and/or electronically. The institutions should not turn back or refuse customers as long as all documentation and requirements are met, and they should establish electronic application and alert systems to update customers on the status of their FX requests.

Posted on: Wednesday, July 28, 2021

Download: BSD/DIR/PUB/LAB/14/052