#OBSURELEGALFACTS BY AROME ABU

INSTANCES WHERE THE CENTRAL BANK OF NIGERIA MAY OPEN BANK ACCOUNTS FOR AND ACCEPT DEPOSITS

In Nigeria the Central Bank may open accounts for and accept deposits from the Federal, State and Local Governments etc

However, the CBN is prohibited from opening accounts for or accepting deposit from individuals.

See Section 27(b) & 34(h) of the CBN ACT.

Arome Abu is the Principal Partner of TCLP.

CAVEAT: Note that this information is provided for general enlightenment purposes and is not intended to be any form of legal advice.

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