Nigerians lament as new CBN policy says foreign currencies transferred into accounts can no longer be withdrawn

This is not the best time for domiciliary account holders in Nigeria.

This followed a new CBN policy which pass customers from withdrawing foreign currencies transferred into their accounts.

The CBN added that cash deposits also made into domiciliary accounts can only be withdrawn as cash over the counter and not transferred out of the domiciliary account.

“Only transfers into domiciliary accounts can be transferred from such accounts while cash deposits into such accounts can only be withdrawn in cash.”

This development, however, did not go down well with many persons especially bloggers and business owners who do transactions online.

A visit to some banks in Abuja on Thursday showed that many customers were stranded following the new policy.

Some foreign account owners who spike with our reporter on Thursday, slammed the federal government for the development.

A bank customer, James Gade, said the new law is strange.

“This government is confused. I wonder the kind of people advising this government.

“I have been here since morning, I need money to take my wife to the hospital and they are saying they cannot pay me because it was sent to my account electronically.

“Honestly, this government is a big shit.”