Nigerian Central Bank Prohibits Use of Foreign Exchange as Collateral for Local Currency Loans

The Central Bank of Nigeria has barred the usage of overseas speech arsenic collateral for section currency loans. In its April 8 missive addressed to banks, the CBN warned of terrible consequences for banks that neglect to comply with the latest directive. Halting the Slide of the Naira Hamstrung by ongoing shortages of U.S. dollars, […]