by Godwin Akanfe
The Central Bank of Nigeria has issued a circular which has effectively closed the interbank market.
As at the morning of Friday, February 13, only one-way, zero margin deals will be allowed as the regulator says it will be giving an intervention imminently.
According to the circular, if traders have legitimate transactions, they are advised to contact their bank in order to buy from the CBN directly.
Traders are reportedly in a state of panic over the development.
More to follow.
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