CBN Stands Firm: Banks Restricted From Using FX Revaluation Gains For Dividends - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / CBN Stands Firm: Banks Restricted From Using FX Revaluation Gains For Dividends (93 Views)
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| CBN Stands Firm: Banks Restricted From Using FX Revaluation Gains For Dividends by Mateco556: 10:25am On Mar 16 |
The Central Bank of Nigeria (CBN) has once again emphasized its stance that banks operating within the country are prohibited from utilizing their foreign exchange (FX) revaluation gains for dividend payouts or operational expenditures. In a recent circular issued by the apex bank on Thursday, signed by Adetona Adedeji, the acting Director of the Banking Supervision Department, banks were sternly warned against this practice. https://ratecaptain.com/cbn-stands-firm-banks-restricted-from-using-fx-revaluation-gains-for-dividends/ |
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