• Banks fail to meet CBN’s forex terms

    Banks fail to meet CBN’s forex terms

    The Central Bank of Nigeria (CBN) is set to cancel the Foreign Exchange Primary Dealers (FXPDs) status of some of the 15 FXPDs banks for recording low forex volumes of transactions against set guidelines,  Adelove has learnt.

    Some of the FXDPs banks include FirstBank, Zenith Bank, United Bank for Africa (UBA), Access Bank, GTBank, Stanbic IBTC and Ecobank Nigeria.

    The CBN appointed the FXDPs lenders to boost dollar liquidity in the forex market but their performance in achieving the set target has […]