CBN suspends 9 banks from forex transactions

24 August 2016, Lagos – The Central Bank of Nigeria, CBN, yesterday, suspended nine banks from further dealing in foreign exchange transactions, until they remit all outstanding Nigerian National Petroleum Corporation, NNPC, funds in their vaults into the Treasury Single Account, TSA. The nine banks were barred for concealing $2.12 billion belonging to the NNPC, […] More »