Stanbic IBTC has announced that effective Monday, 23 August 2021 the cumulative cash deposit on dollar (USD) accounts will be revised to a maximum of $10,000 (USD) monthly.
While customers will be able to make multiple cash deposits within the month, Stanbic informed that the total cash deposit summation will be capped at $10,000 (USD) in any calendar month.
“We assure you of our continued commitment to serving your best interest as much as possible,” Stanbic said.
The Central Bank of Nigeria (CBN) has struggled to supply dollars to banks to keep up with demand in Africa’s largest economy as oil prices dropped for much of last year as a result of the coronavirus pandemic.