Tag
CBN
Loan shall be determined based on the activity and shall not exceed N10 billion per obligor.
The CBN did not state why the accounts were flagged but sources inform Nairametrics that it is due to suspicion of forex infractions.
https://www.youtube.com/watch?v=uGYAb-UXcoc
$50 million was sold to foreign investors on the spot and forward market.
Forex traders are reportedly turning down offers to buy due to fear that the naira could strengthen again.
With inflation rate at 12.8%, this is almost like paying banks to keep the money for you.
The sales of forex to BDCs will inject more liquidity to the retail end of the foreign exchange market.
The 3 Payment Service Banks are Hope PSB, Moneymaster PSB and 9 PSB.
The name of PSBs must not include any word that links it to the parent company.
The Naira remained stable against the dollar to close at N477/$1 on Thursday at the black market.
The CBN has directed BDCs to adopt an exchange rate of N386/$1.
The CBN has directed banks to submit details of all the exporters who have failed to repatriate their export proceeds.