CBN Go Against Illegal Foreign Transfer, Nigeria
The Central Bank of Nigeria (CBN) has recent pass strong warning to all the banks in Nigeria to henceforth freeze any accounts receiving illegal foreign exchange forex into the country.
According to report the apex bank constructed all the banks to conduct Know Your Customs Business (KYCB) checks on all their customers accounts to enable them ensure that their customers do not transact illegal receiving of fun flows to the country.
The CBN equally directed the banks to identify and freeze accounts receiving illicit forex and submit the account details of the accounts held in Naira or foreign currency to the CBN for prompt reporting to the security agencies. Henceforth there there won’t be any form of illegal receiving of transfer in the country Nigeria.
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