CBN stops use of foreign currencies as collateral for naira loan

News Express |8th Apr 2024 | 175

The Central Bank of Nigeria has written to all banks in Nigeria to stop the use of foreign currencies as collateral for naira loans.

It disclosed this In a circular uploaded to its website on Monday.

The apex bank said it had observed the use of FCY by bank customers as collateral for naira loans and, therefore, prohibits it with immediate effect. (The PUNCH)

Comments

Post Comment

Lagos market massacre: Death toll rises after police shooting

OFFICIAL: 420 communities attacked in Plateau, almost 12,000 killed in 24 years — Fact-Finding Committee

Heavy mourning as FIRS loses 4 senior staff in Lagos fire (SEE NAMES)

Marketers demand N1.5trn subsidy to match refinery gantry price — Dangote

Pension arrears: Obi slams FG, demands immediate payment to senior citizens

2027: APC not scared of Jonathan — National Chairman

WAPCP calls on FCCPC to step up advocacy for patients’ bill rights

DAPPMAN denies sponsoring NUPENG, threatens Dangote with lawsuit

Police vanquish 2 kidnappers in Delta gun battle

Champions League: Last-gasp Liverpool beat Atletico after spurning lead

Lagos begins monitoring of schools

NAFDAC warns of fake Artemetrin DS, antibiotic Ciprofit 500 in circulation

Police arrest nine over self-kidnap, ransom plot in Niger

Soludo rejects Ekwunife’s apology

Rivers: End of emergency rule stirs mixed reactions

Police arrest 6 illegal miners in Niger

Court jails Sokoto River Basin director for corruption

Stakeholders dismiss Abia govt claims of compensating 3,500 landowners for Airport project

Ogun warns land grabbers to vacate government agricultural land

2027: Obidient leader defends El-Rufai, backs southern presidency

Thursday, September 18, 2025 7:11 AM

GOCOP Accredited Member

NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.