• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

CBN issues 4 weeks ultimatum on FX to banks

Chacha Wabara by Chacha Wabara
September 19, 2017
in Business News
CBN Approves $10k Per Week FX Sale To BDC’s
Share on FacebookShare on TwitterShare on Linkedin

The Central Bank of Nigeria, CBN, has passed a circular to all banks signed by the Director, Banking Supervision Department, Ahmad Abdullahi, stating that it was issuing them a 4 weeks ultimatum to comply with the earlier directive given to them; asking them to open teller points for retail Foreign Exchange (FX) transactions at various locations.

Failure to comply with the 4 weeks ultimatum could result in severe sanctions including being barred from all future CBN FX interventions. The purpose of this exercise CBN clarified is to ensure public awareness regarding the availability of such facilities in branches of the bank at clearly disclosed prices.

According to CBN spokesman, Mr. Isaac Okoroafor, this intervention is a clear indicator of CBN’s avowed commitment to creating a liquid interbank FX market where all genuine requests will be met in line with extant FX guidelines. CBN clearly won’t stand for a breech this time around as clearly stated in the circular.

RelatedStories

CBN, forex

June 2025 PMI: CBN warns of inflation as input costs outpace output prices

July 8, 2025
CBN, forex

CBN clarifies NRBVN charges, says BVN enrolment remains free for Nigerians in Nigeria 

July 7, 2025

“The objective is to create awareness among members of the public regarding the availability of such facilities in branches of the banks at clearly disclosed prices. Unfortunately, our observation has been that most Deposit Money Banks are in breach of the above directives. You are therefore given a period of four weeks up to October 13 to fully comply with the above directives or face stiff regulatory sanctions, including but not limited to being barred from all future CBN FX interventions.”

It would be in the best interests of all banks to comply with these directives or face the consequences.

Tags: CBNcommercmial banksforexNews Reviewsanctionsteller point
Chacha Wabara

Chacha Wabara

Chacha Wabara-Ogbobine is a Legal practitioner with over 9years post call experience. A research Consultant, professional writer and a blogger at heart,owner of four thriving websites with well over 10years of experience. Totally in love with keeping fit and coaching weight loss enthusiasts. I love my quiet time, being with my kids, watching TV series for hours on end.

Related Posts

CBN, forex
Economy

June 2025 PMI: CBN warns of inflation as input costs outpace output prices

July 8, 2025
CBN, forex
Financial Services

CBN clarifies NRBVN charges, says BVN enrolment remains free for Nigerians in Nigeria 

July 7, 2025
CBN, forex
Breaking News

Court upholds CBN-backed NIBSS Authority to manage BVN Database nationwide 

July 4, 2025
CBN, forex
Financial Services

Credit to Private sector slips marginally to N77.83 trillion in May 2025 despite surging money supply 

July 3, 2025
CBN, forex
Financial Services

Nigeria’s FDI drops by 19% to $250 million in Q1 2025 – CBN 

June 27, 2025
CBN Governor Yemi Cardoso to be honoured at Nairametrics Capital Market Awards for monetary policy reforms and banking sector recapitalization 
Financial Services

Focus on ‘African-led, African-owned’ growth, digital transformation – Cardoso tells African leaders at Afreximbank AGM 

June 25, 2025
Next Post
7 inspiring business quotes that will guide you to success

7 inspiring business quotes that will guide you to success

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Mastercard launches Afrobeat Sonic Anthem to deepen youth engagement in Nigeria 
  • United Capital hosts 2nd Asset Management Investment Forum, focuses on bridging Nigeria’s knowledge and wealth gap 
  • Evaluating AI-Driven alerts that keep Nigerian traders ahead of market moves 

Follow us on social media:

Recent News

Mastercard launches Afrobeat Sonic Anthem to deepen youth engagement in Nigeria 

Mastercard launches Afrobeat Sonic Anthem to deepen youth engagement in Nigeria 

July 11, 2025
United Capital hosts 2nd Asset Management Investment Forum, focuses on bridging Nigeria’s knowledge and wealth gap 

United Capital hosts 2nd Asset Management Investment Forum, focuses on bridging Nigeria’s knowledge and wealth gap 

July 11, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics