Dubai banks begin closure of accounts of Nigerian politicians

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.