May 10, 2015
In what may come across as a fresh diplomatic row between the United Arabs Emirates (UAE) and Nigeria, it has been revealed that 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.
Nigerian journalist Fidelis Mbah made this revelation with a series of posts on his Twitter account informing Nigerians that Dubai banks are closing accounts of Nigerians in the United Arab Emirates.
It is reported that the UAE is taking this action to avoid money laundering by Nigerian politicians; a situation which they claim has become widespread.
All Nigerians whose accounts have been closed down have been issued cheques equivalent to the amount they have in their accounts. Also, all account holders reportedly have 5 working days to cash their monies or forfeit them.
Source: The Sheet