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Foreign currency

Money market, News, Top Story

Naira depreciation: CBN sets new foreign currency exposure limit for commercial banks

…Accuse banks of hoarding FX to increase profits By Sodiq Adelakun In response to the ongoing depreciation of the Naira, the Central Bank of Nigeria (CBN) has taken a decisive step to stem the tide of currency speculation and hoarding…

NewsDirect
February 1, 2024

Money market

Foreign currency deposits in Nigerian banks hit N17.65trn in June — CBN

In June, there was a more than 20 percent increase in the total balance of domiciliary accounts in Nigeria’s commercial and merchant banks, an analysis of data from the Central Bank of Nigeria (CBN) shows. The foreign currency deposits, a…

NewsDirect
November 10, 2023