CBN orders banks to sell excess dollars in 24 hours
The Central Bank of Nigeria CBN has ordered Deposit Money Banks to sell their excess dollar stock latest February 1, 2024, in a bid to stabilise the nation’s volatile exchange rate, The CBN, which made the disclosure in a new circular titled, “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks”, which was released on Wednesday, warned lenders against hoarding excess foreign currencies in other for them to profit […]
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