Form (A) I Account is limited to a maximum single deposit of 20,000 Maximum cumulative balance 200,000 naira at any point in time Form (A) II is similar to form (A) I, but maximum single deposit is 50,000 naira Maximum cumulative balance is 400,000 naira International funds transfer prohibited. By […]
Tag: Know-Your-Customer
Money laundering: CBN extends deadline for customers’ appraisal
The Central Bank of Nigeria on Tuesday extended the deadline given to Designated Non-Financial Businesses and Professions to update their account information with evidence of registration, towards fulfilling the Know-Your-Customer requirement. The regulator said KYC requirement was expected to enable the regulator to check money laundering and other malpractices in […]
