Deposits on foreign accounts now limited to 10,000 dollars only

Deposits on foreign accounts now limited to 10,000 dollars only

Nigeria's Apex Bank,CBN has limited the amount of deposits on foreign accounts to ($10,000) monthly per customer. This was made known by text messages and mail recieved by some customers of certain banks.

Below is what Stanbic Ibtc sent to a customer

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