The Central Bank of Nigeria, CBN, has reinstated the nine commercial
banks that were recently suspended from the foreign exchange, forex,
market.
The reinstatement of the banks was announced in Abuja on Wednesday by
the CBN Director of Banking Supervision, Mrs. Tokunbo Martins.
She explained that the apex bank reached the decision after the banks presented repayments plans.
Recall that the banks were suspended last week for failing to remit
about $2.3 billion funds of the Nigerian National Petroleum Corporation,
NNPC, to the Treasury Single Account, TSA, operated by the federal
government.
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