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Nairaland Forum / Nairaland / General / Business / "No-Nonsense" CBN Bars Nine Banks From All Forex Transactions (685 Views)
CBN Suspends 19 Banks From Forex Sale To BDCs / CBN Sanctions Nine Banks For Failing To Remit $2.3bn NNPC Funds / CBN Orders Banks To Publish All Forex Transactions On FMDQ (2) (3) (4)
"No-Nonsense" CBN Bars Nine Banks From All Forex Transactions by Adesiji77: 8:38pm On Aug 23, 2016 |
Determined not to tolerate any further breach of extant financial regulations, the Central Bank of Nigeria (CBN) has barred nine banks from all foreign exchange transactions. http://www.thisdaylive.com/index.php/2016/08/23/no-nonsense-cbn-bars-eight-banks-from-all-forex-transactions-for-concealing-2-125bn-nnpc-funds/ |
Re: "No-Nonsense" CBN Bars Nine Banks From All Forex Transactions by yimikaa: 8:59pm On Aug 23, 2016 |
Make I park for here. |
Re: "No-Nonsense" CBN Bars Nine Banks From All Forex Transactions by Nobody: 8:59pm On Aug 23, 2016 |
ok |
Re: "No-Nonsense" CBN Bars Nine Banks From All Forex Transactions by davide470(m): 9:06pm On Aug 23, 2016 |
Like i said earlier on.. Tactical calculation would have been made prior to the non-release of the funds. A case study: FBNH was supposed to remit $469m but didn't. Let's say they make c.$50m as non-interest income within the period, then negate the surely forth-coming CBN fine of c.$5m, thereby leaving a profit spread of $45m. So why not risk it!! Everyone goes home happy! 1 Like |
Re: "No-Nonsense" CBN Bars Nine Banks From All Forex Transactions by dav8id(m): 9:15pm On Aug 23, 2016 |
thank God my dearly stobic is not included |
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