Nigerian central bank clamps down on alleged FX breaches

central-bank-of-nigeria

Nigeria’s central bank has issued legal orders preventing 38 companies from making debits from their bank accounts.

The Central Bank of Nigeria placed a “post no debit” order on the 38 companies, several media outlets say. The move was not announced on the CBN’s website and the central bank did not respond to requests for comment. Several media outlets say that the firms were notified by a memo sent by Bello Hassan, the CBN’s director of banking supervision.

The Cable newspaper reports that

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: