CBN lifts FX operations restrictions all commercial banks sanctioned last week for non-remittance of NNPC funds.

CBN lifts FX operations restrictions all commercial banks sanctioned last week for non-remittance of NNPC funds.

The Central Bank of Nigeria has lifted the restriction on Foreign Exchange transactions it placed on 9 commercial banks last week for failing to remit $2.12 billion belonging to the nation’s oil corporation, the Nigerian National Petroleum Corporation (NNPC), into the Treasury Single Account TSA. The nine banks comprised of three tier-one lenders and six tier-two deposit money banks.

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