CBN introduces new measures for banks to manage FX risks
The Central Bank of Nigeria on Wednesday raised concerns over the increase in foreign currency exposures among Nigerian banks.
In a bid to manage risks and prevent potential losses with systemic implications, the CBN issued stringent lending requirements for commercial banks.
The requirements are contained in a circular addressed to all banks and signed by the duo of the apex bank’s Director of Trade and Exchange, Hassan Mahmud, and the Director of Banking Supervision, Rita Sike.
The bank expressed worry over the…