1 post • Page 1 of 1
Finance Magnates has learned that CBN, Nigeria’s central bank, has suspended nine banks from the interbank currency market for failing to remit money owed to the government, according to a report in Reuters today.
Join the industry leaders at the Finance Magnates London Summit, 14-15 November, 2016. Register here!
Suspension in Force
A director at one of the affected lenders said his bank informed all board members of the suspension on Tuesday, adding it held $125 million of the total sum.
The suspension follows the tightening of restrictions by the central bank on the flow of dollars to domestic lenders in March ... (read more)