Central Bank Suspends 19 Banks From Forex Sales To BDC

                               

The Central Bank of Nigeria has sanctioned 19 banks for not complying with its  directives over sales of Forex to Bureau de Change.
This suspension excludes First Bank of Nigeria.The CBN two months ago directed all banks to sell the proceeds of their International Money Transfer to BDC in order to address the Forex crisis and  Naira depreciation,an order the CBN discovered the banks were circumventing.