The Central Bank of Nigeria (CBN) has re-instated all the banks that were banned from the foreign exchange market, the Director, Banking Supervision, Mrs Tokunbo Martins, has said.
She said this on Wednesday in Abuja at a media briefing, stating that the decision was reached after a series of meetings with the body of bank Chief Executive Officers (CEOs) and the Chartered Institute of Bankers of Nigeria (CIBN).
โWell, we have had engagements with the body of CEOs and they have been interacting amongst themselves and I am happy to tell you today that the banks that were hitherto banned have been released from the ban.
โAnd the reason is because all of the banks after discussions and engagements under the auspices of the body of CEOs and the CIBN have all submitted credible repayment plans which we the CBN found acceptable.
โSo as a result of that, all those banks have been re-instated in the foreign exchange market.โโ
The CIBN President, Prof. Segun Ajibola, said that the institute was very much interested in what was happening among all the industry players.
