CBN Says Commercial Banks Should Make Provisions For Forex Loans

CBN Nigeria
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The Central Bank of Nigeria has reportedly ordered Commercial Banks to make full provisions for their foreign currency loans, due to the obvious change in the official exchange rate of the interbank market.

 This was contained in a circular by the Director Banking Supervision, for CBN, Mrs Tokunbo Martins giving reason that this was due to the floating of the naira at the interbank market on June 15, 2016.

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