The apex bank in Nigeria - Central Bank Nigeria has issued a circular on the financial limit of domiciliary accounts.
CBN Governor - Godwin Emefiele
Read the circular below as issued to one of the commercial banks in the country:
Esteemed Customer,
Thank you for banking with us.
We write to inform you that foreign transfers from domiciliary accounts on the back of funding through cash deposits is now restricted to a maximum of Ten Thousand Dollars ($10,000) monthly per customer. This adjustment applies to all customers irrespective of the number of accounts operated and will take effect from 01 December, 2016.
However we will continue to accept cash deposits to domiciliary accounts in line with subsistent regulatory guidelines.
For further enquiries on this revision as well as our bouquet of products and services, please call 01 270 9676, email CustomerCareNigeria@stanbicibtc.com or visit the branch nearest to you.
Yours Sincerely,
Stanbic IBTC Bank PLC