• CBN orders banks to stop dollar loans

    CBN orders banks to stop dollar loans

    According to reports, the Central Bank of Nigeria (CBN) has stated that bank customers who do not earn foreign exchange (forex) will henceforth not be able to secure dollar-denominated loans.

    CBN Director, Banking Supervision, Mrs. Tokunbo Martins, said this at the CBN-Financial Institutions Training Centre (FITC) continuous education programme for Directors of Banks and Other Financial Institutions, held in Lagos.

    She said the policy shift followed the continuous depreciation of the naira and subsequent rise in foreign currency exposures of banks in […]