Post by Ibadan Watch (@Ibadanwatch)

34 Institutions Face Sanctions Over Forex Rule Violations

The Central Bank of Nigeria (CBN) has uncovered foreign exchange regulatory breaches by 34 authorised dealers after a routine examination. The affected institutions may face sanctions for violating forex guidelines.

The CBN said the move was part of efforts to strengthen compliance, ensure transparency, and promote stability in Nigeria’s foreign exchange market. The names of the institutions were not disclosed.

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