The UAE Central bank this week enacted a new
policy prohibiting Nigerians who do not work in
their country from operating accounts in any of
their local or foreign banks. They say this is to
prevent money laundering by Nigerian politicians
which they claim has become rampant.
Now, they have reportedly closed accounts of all
Nigerians not working in the UAE and issued
them cheques equivalent to the amount they
have in their accounts. All account holders
reportedly have 5-working days to cash their
money.
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