Nigerian central bank clamps down on alleged FX breaches
Local media reports bank accounts for 38 firms were blocked as currency remains under pressure
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
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