• CBN denies plan to freeze domiciliary accounts

    CBN denies plan to freeze domiciliary accounts

    According to reports, the Central Bank of Nigeria (CBN) has denied claims that it was planning to confiscate funds in domiciliary accounts of individuals, saying the claim was “false”.

    The CBN also said yesterday that it does not have any plan to amend the nation’s Foreign-Exchange Act to sanction anyone found hoarding foreign currencies, as earlier rumoured.

    “To the best of my knowledge, the Central Bank of Nigeria (CBN) has not proposed any bill seeking to arrest and jail persons holding foreign […]