Forex limit: Reps to probe banks over non-compliance with CBN's directive
The House of Representatives has mandated a hearing on the non-compliance by commercial banks with the CBN’s directives on the NOP Limits.
Source: punchng.com
Rita Sike News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Stay updated with breaking news from Rita Sike. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Top News In Rita Sike Today - Breaking & Trending Today
CBN orders banks to sell excess dollar stock by February 1, 2024
CBN has issued a directive to Deposit Money Banks (DMBs) to liquidate their excess dollar stock by February 1, 2024, in a bid to stabilise the nations exchange rate. | Pulse Nigeria
Source: pulse.ng
CBN cracks down on banks as naira experiences sharp decline
The Central Bank of Nigeria (CBN) has taken decisive action against commercial banks accused of hoarding foreign currency for profit. | Pulse Nigeria
Source: pulse.ng
Nigeria's Central Bank Issues New Guidelines To Stop Foreign Currency Speculation, Hoarding By Commercial Banks
The Central Bank of Nigeria (CBN) on Wednesday issued new guidelines to all commercial banks operating in the country against hoarding and speculation of foreign currency. This was stated in a circular issued by the apex bank jointly signed by the Directors of Trade and Exchange, Hassan Mahmud and Director of Banking Supervision, Rita Sike, revealing that the CBN had discovered foreign currency exposures of banks through their Net Open Position (NOP) which allowed the bank to hoard the currency for a very long time unnecessarily.
Source: saharareporters.com