Domiciliary

Rumours making the round that the Central Bank of Nigeria (CBN) would compel commercial banks to convert all domiciliary accounts to local currency have been debunked.
CBN on Saturday said that the purported circular to the effect was fake.
It said it has no plans to convert foreign currencies in the domiciliary accounts of Nigerians in banks.
In a statement issued by its Director of Corporate Communications, Osita Nwasinobi, the apex bank denied issuing any circular to the effect that it would do such a thing.
“The attention of the Central Bank of Nigeria (CBN) has been drawn to a fake circulation, in social media circles, of a circular with a fake CBN logo curiously dated “13 September 2021”, and purportedly issued by its Trade and Exchange Department to the effect that all Deposit Money Banks, International Money Transfer Operators (IMTOs) and members of the public are to convert domiciliary account holdings into naira.
“We wish to reiterate that the Bank has not contemplated, and will never contemplate, any such line of action.
“The speculation is a completely false narrative aimed at triggering panic in the foreign exchange market,’’ CBN said,