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The Central Bank of Nigeria issued a directive instructing commercial banks on Monday to refrain from utilizing their foreign exchange revaluation gains for dividends and operational expenditures.
The Central Bank of Nigeria (CBN) has asked deposit money banks (DMBs) to stop utilising gains from the revaluation of the naira to pay dividends or finance operations.
The Central Bank of Nigeria (CBN) has directed commercial banks to refrain from utilizing their foreign exchange revaluation gains for dividends and
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to stop utilising gains from their foreign exchange revaluation for dividends and operational expenditures. The new directive is contained in a letter signed by the CBN Director, Banking Division Department, Haruna Mustafa, on Monday. FX revaluation gains refer to the increase in the […]
In a move that aims to safeguard the stability of Nigeria’s financial sector, the Central Bank of Nigeria (CBN) has issued a directive to Deposit Money Banks (DMBs), compelling them to refrain from utilizing gains accrued from foreign exchange revaluation for dividends and operational expenditures. In a letter dated September 11, 2023, and signed by |