Nigeria: CBN Threatens to Sanction Erring Banks Over Forex Sales

19 September 2017

The Central Bank of Nigeria (CBN) yesterday threatened to sanction any deposit money bank (DMB) that is in breach of its earlier directive on open teller points for retail forex transactions and electronic display boards in all their branches.

Part of the directive made by the CBN on March 3, 2017 was that the banks should show rates of all trading currencies in their banking halls.

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