2009-12-15 | BOD/DIR/CIR/GEN/01/101

Circular on Harmonisation of Accounts

The Central Bank of Nigeria has issued a circular to all Deposit Money Banks regarding harmonization of their accounts. Starting from January 1st, 2010, banks must maintain only three main accounts: the Current Account, RTGS (Settlement Account), and CRR (Cash Reserve Requirement) Account. All dormant/legacy and other non-active accounts will be closed, with balances transferred into the current account.

Nigeria

Central Bank of Nigeria

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