The Central Bank of Nigeria has directed commercial banks to create mobile applications and alert systems to update customers of their foreign exchange movement. This follows the CBN’s ban on sales of forex to Bureau de Change operators and directive to deposit money banks to establish teller points to fulfil legitimate forex requests from customers. The new directive is contained in a circular signed by the Director, Banking Supervision Department, Haruna Mustafa, and issued on Wednesday with the reference number: BSD/DIR/PUB/LAB/14/082. The circular read, “Further to the Monetary Policy Committees (MPC briefing...