CBN’s policy: Access Bank commences dollar payment for fund transfers

Access Bank Plc has announced its nationwide payout of dollars to beneficiaries of international remittances, in compliance with the recent policy change by the Central Bank Nigeria (CBN).

This was disclosed by the executive director, Retail Banking, Access Bank Plc, Victor Etuokwu.

Etuokwu said the nationwide dollar payment was part of the bank’s promise to create value and meet the needs of its customers.

It will be recalled that the CBN had directed that recipients of international remittances could receive their funds in cash in dollars or to have funds paid directly into their domiciliary accounts.

The Executive Director, Retail Banking, said: “We are happy to announce that our customers can now receive funds sent from the Diaspora in dollars at any of our branches nationwide. The funds will be available as cash pick-up or direct transfer into customers’ domiciliary accounts.

“We encourage Nigerians in the Diaspora to take advantage of this season of giving, to send funds home for their loved ones, who in turn can receive either by opening an Access Bank domiciliary account or reactivate their inactive domiciliary account and the funds will be paid directly to their accounts or visit any of our 500 branches nationwide to receive their funds in dollars cash.”

He added that the bank’s promise to deliver “more than banking” services is even more critical at this time as customers are looking for convenient products and services that facilitate their lifestyle.

Etuokwu, however, stated that the bank’s remittance services are available to both customers and non-customers of the bank.