CBN and the burden of supervision

That some banks have become conduit pipes for both local and international money laundering activities leaves much to be desired. There is no doubt that the banking sector reform programme by the Central Bank of Nigeria (CBN) has brought sanity into the industry. For now, the era of core banking, which had hitherto been sacrificed on the altar of round tripping at the foreign exchange market, has ebbed and this can be attributed to a vigilant apex bank.
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