CBN sanctions 12 banks for hoarding forex from SMEs

The Central Bank of Nigeria (CBN) has barred at least 12 deposit money banks (DMB) from the SMEs window of foreign exchange market for flouting regulations, TheCable reports. Isaac Okorafor, the CBN spokesman said only eight banks had sold forex to the SMEs. Okorafor said the banks were barred for refusing to sell forex to... Read More