CBN Lifts Suspension On Eight Banks From FX Market

Following the plea made by the Body of Bank CEOs asking the Central Bank of Nigeria (CBN) to lift the suspension of eight banks barred from participating in the foreign exchange market, the CBN lifted the ban Wednesday afternoon.

 The CBN had suspended eight banks from the FX market last week Tuesday for failing to return Nigerian National Petroleum Corporation/Nigeria Liquefied Natural Gas Company dollar deposits to the Treasury Singe Account (TSA) with the central bank.

 A CEO of one of the affected banks has also confirmed the development.

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