Forex: CBN Recalls Suspended Banks
The Central Bank of Nigeria, CBN, has called back the remaining eight commercial banks that were recently suspended from the foreign exchange market.
Mrs. Tokunbo Martins, Director of Banking Supervision, disclosed this on Wednesday in Abuja after the affected eight money deposit banks presented a repayment plans.
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Recall that on 24th August, the CBN suspended nine banks from further dealing in foreign exchange transactions, until they remit all outstanding Nigerian National Petroleum Corporation, NNPC, funds in their vaults into the Treasury Single Account, TSA.
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A day after, the apex bank revealed that UBA had remitted all outstanding foreign currency belonging to the NNPC.
