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Nigeria: Central Bank prohibits banks to accept foreign currency deposits

Description

On 5 August 2015, the Central Bank of Nigeria (CBN) prohibited commercial banks to accept deposits of foreign currency cash. The policy was published in a circular by the CBN's Director of the Trade a...

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Intervention Details

Intervention Type

Controls on commercial transactions and investment instruments

MAST Chapter

Capital control measures

Implementation date

05 Aug 2015

Revocation date

No revocation date

Implementation level

National

Affected flow

Inward

Announced as temporary

No

Eligible firms

all

Affected Trading Partners

Graph

Table

Affected Sectors

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Affected Products

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Harmful Trade Policy Measures

This Thread tracks harmful trade policy interventions affecting all products. Covering all types of interventions monitored by Global Trade Alert, it highlights how the yearly number of these measures has evolved over time.

Published: 04 Sep 2024

70711

interventions

194

jurisdictions