NIGERIA — The Central Bank of Nigeria (CBN) has banned the use of foreign currency- denominated collaterals for naira loans. This was contained in a circular dated April 8, 2024 and directed to all banks by CBN’s Acting Director of Banking Supervision Department, Adetona Adedeji. The apex bank official listed two exceptions to the rule as foreign currency collateral which are Eurobonds issued by the Federal Government or guarantees of foreign banks, including Standby Letters of Credit... channelstv.com
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Central Bank of Nigeria has banned the use of foreign currency-denominated collaterals for naira loans
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Published (Updated) on Tuesday, April 9, 2024
• CBN's Currency in Circulation Drops Significantly, as Redesigned Naira Notes are Rolled Out — According to the CBN, it dropped from N3.16 trillion in November 2022 to N982.09 billion in February 2023
• CBN Autonomy Debate: How Truly Independent is the Central Bank of Nigeria — The Autonomy of the CBN and Political Influence - Article
• Ex Rivers State Governor Nyesom Wike (Now FCT Minister) Receives Godswill Akpabio the Senate President of Nigeria at His Residence in Abuja on Tuesday 18th, March 2025 - Photo News
• Nigerian President Bola Tinubu Receives N705 Millionaire Naira Donation from House of Representative Led by Speaker Tajudeen Abbas and Deputy Speaker Benjamin Kalu - Photo News
• Forty Innovative Ways to Leverage Artificial Intelligence (AI) Technology for Profit - How to Use AI to Make Money, Generate Profits for Your Business and Increase Your Income
• Gold price jumps amid trade war fears • U.S. crude oil losses deepen • Elon Musk’s net worth sinks • Nigerian Naira Plunges, and more - Tuesday 08/April/2025 Top Business News Headlines
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