CBN bars 18 banks from SMEs' forex window

The Central Bank of Nigeria (CBN) has barred at least 18 Deposit Money Banks (DMB) from the Small and Medium Enterprises (SME) window of the foreign exchange market for flouting regulations, as it relates to small businesses. New Telegraph learnt that the financial regulator took the decision to bar the erring banks based on field reports, which revealed that only eight banks had sold forex to the SMEs. The CBN governor, Godwin Emefiele, had hinted the bank CEOs last Thursday at the Bankers Committee meeting in Lagos that he would...The post CBN bars 18 banks from SMEs' forex window appeared first on New Telegraph Newspapers.
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