The Central Bank of Nigeria ( CBN ) has reinstated the nine banks that were recently suspended from the foreign exchange market.

They were suspended last week for failing to remit about$ 2.3 billion funds of the Nigerian National Petroleum Corporation (NNPC) to the Treasury Single Account (TSA) of the federal government

The CBN Director of Banking Supervision, Mrs. Tokunbo Martins, who announced the reinstatement in Abuja , Wednesday, explained that the apex bank took the decision after the banks presented repayments plans.

See list of the banks barred from forex transactions


United Bank for Africa (UBA) -$530m;

First Bank of Nigeria (FBN)- $469m;

Diamond Bank Plc-$287m;

Sterling Bank Plc-$269m;

Sky Bank Plc -$221m;

Fidelity Bank -$209m;

Keystone Bank- $139;

First City Monument Bank (FCMB) -$125m;

and Heritage Bank-$85m, totaling .

Jirate:
Useless CBN, Useless Government, Useless APC, add yours if you care.....

Qmerit:


who appoint the current CBN Gov pls?
And if he has been kicked out what song would you have sang ?

Jirate:
Useless CBN, Useless Government, Useless APC, add yours if you care.....

See list of the banks barred from forex transactions


United Bank for Africa (UBA) -$530m;

First Bank of Nigeria (FBN)- $469m;

Diamond Bank Plc-$287m;

Sterling Bank Plc-$269m;

Sky Bank Plc -$221m;

Fidelity Bank -$209m;

Keystone Bank- $139;

First City Monument Bank (FCMB) -$125m;

and Heritage Bank-$85m

NavierStokes:
Penny wise pound foolish approach of the CBN, why didn't they explore all options before making their hurried announcements forgetting that we are in a recession, markets are driven by sentiments, prices in Nigeria are generically "uni-directional", the reason every price that goes up hardly returns to its initial position.

Imagine outing off these banks as well as intl funds transfer agencies at the same time only for them to reinstate them all a week later.

Someone is deliberately pushing these prices higher, motive, I have no idea but for sure it's deliberate.

tritt:



http://www.vanguardngr.com/2016/08/breaking-news-cbn-reinstates-9-banks-suspended-from-forex-market/

chuose:
BUHARI & CO WORKING HARD TO KEEP THEIR PROMISE
TO DESTROY JOBS

Emekamex:
The stupid CBN has seen that the ban caused the naira to depreciate further to 420 naira to a dollar. It is better they see the long term impact of a policy before adopting it. Policy somersault and reversals within a short period scares away investors, policy stability is the keyto economic growth.