Nigeria: Banks in Dilemma Over Idle U.S.$5 Billion Deposits

26 August 2015

Lagos — Indications emerged, yesterday, that banks in the country are now in a dilemma on what to do with an estimated $5 billion that is currently idle in their vaults.

Banks, it was gathered, have their vaults full of dollars that they do not know how to dispose them. It is funds they can neither lend to other banks nor sell to CBN, and the only option open to them is to sell.

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