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3232Nigerian Foreign Exchange Crisis: Central Bank Issues Warning to Microfinance Banks
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Tue, 24 Aug 2021 00:55:00 +0000https://www.digit.info/2021/08/24/nigerian-foreign-exchange-crisis-central-bank-issues-warning-to-microfinance-banks/Read more]]>The Central Bank of Nigeria (CBN) has threatened punitive sanctions against microfinance banks that violate the conditions of their operating license through the performance of foreign currency-related transactions. In its latest circular, the CBN claims that microfinance banks have a very low capitalization hence their handling of such transactions threatens the stability of the financial […]
The Central Bank of Nigeria (CBN) has threatened punitive sanctions against microfinance banks that violate the conditions of their operating license through the performance of foreign currency-related transactions. In its latest circular, the CBN claims that microfinance banks have a very low capitalization hence their handling of such transactions threatens the stability of the financial […]