{"id":11344,"date":"2017-03-06T13:28:31","date_gmt":"2017-03-06T12:28:31","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=11344"},"modified":"2017-03-06T13:28:31","modified_gmt":"2017-03-06T12:28:31","slug":"cbn-orders-banks-to-honor-dollar-application-within-48-hrs","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/","title":{"rendered":"CBN Orders Banks To Honor Dollar Application Within 48 Hrs"},"content":{"rendered":"

The Central Bank of Nigeria (CBN) has directed Money Deposit Banks to henceforth process and meet the demand for dollars and other foreign currencies within 48 hours.<\/p>\n

In a circular made available to journalists, on Sunday in Abuja, the Director, Financial Markets Department, CBN, Dr Alvan Ikoku said the order would further make foreign currencies readily available to end users.<\/p>\n

Ikoku said that banks have been directed to process and meet the demand for personal and business travelling allowances by customers within 24 hours of application.<\/p>\n

For school fees and medical bills, the apex bank said that the commercial banks were to meet demand within 48 hours.<\/p>

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Ikoku said that non-compliance with these directives would attract sanctions, including but not limited to being barred from all future CBN foreign exchange interventions.<\/p>\n

\u201cIn order to further ensure availability to end-users, all banks are hereby directed to open teller points in all locations in order to ensure access to foreign exchange by their customers without any hindrance.<\/p>\n

\u201cThey are to have electronic display boards in all their branches, showing rates of all traded currencies,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria (CBN) has directed Money Deposit Banks to henceforth process and meet the demand for dollars and other foreign currencies within 48 hours. In a circular made available to journalists, on Sunday in Abuja, the Director, Financial Markets Department, CBN, Dr Alvan Ikoku said the order would further make foreign currencies …<\/p>\n","protected":false},"author":11,"featured_media":10229,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[36],"coauthors":[2393,2392],"class_list":["post-11344","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-cbn"],"yoast_head":"\nCBN Orders Banks To Honor Dollar Application Within 48 Hrs - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN Orders Banks To Honor Dollar Application Within 48 Hrs - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria (CBN) has directed Money Deposit Banks to henceforth process and meet the demand for dollars and other foreign currencies within 48 hours. In a circular made available to journalists, on Sunday in Abuja, the Director, Financial Markets Department, CBN, Dr Alvan Ikoku said the order would further make foreign currencies …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-06T12:28:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/01\/Co-Chair-RCG-SSA-Emefiele.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/01\/Co-Chair-RCG-SSA-Emefiele.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/01\/Co-Chair-RCG-SSA-Emefiele.jpg\",\"width\":1500,\"height\":1500,\"caption\":\"CBN Gov, Godwin Emefele\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/\",\"name\":\"CBN Orders Banks To Honor Dollar Application Within 48 Hrs - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/#primaryimage\"},\"datePublished\":\"2017-03-06T12:28:31+00:00\",\"dateModified\":\"2017-03-06T12:28:31+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CBN Orders Banks To Honor Dollar Application Within 48 Hrs\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBN Orders Banks To Honor Dollar Application Within 48 Hrs - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/cbn-orders-banks-to-honor-dollar-application-within-48-hrs\/","og_locale":"en_US","og_type":"article","og_title":"CBN Orders Banks To Honor Dollar Application Within 48 Hrs - National Wire","og_description":"The Central Bank of Nigeria (CBN) has directed Money Deposit Banks to henceforth process and meet the demand for dollars and other foreign currencies within 48 hours. 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