• CBN Threatens Banks Over Electricity Stabilisation Fund

    CBN Threatens Banks Over Electricity Stabilisation Fund

    The Central Bank of Nigeria has threatened to sanction any of the participating deposit money banks that contravenes the terms and conditions of the Nigerian Electricity Market Stabilisation Facility (NEMSF).

    The apex bank in a circular signed by the director, Financial Policy and Regulation, Kevin Amugo, and issued yesterday, said it would impose monetary sanctions as well as terminate the participating mandate of any bank that violates the terms and conditions of the CBN/NEMSF.

    The CBN Nigeria Electricity Market Stabilisation Fund (CBN-NEMSF) […]