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CBN suspends 9 banks from forex transactions

CBN suspends 9 banks from forex transactions

The Central Bank of Nigeria, CBN, yesterday, suspended nine banks from further dealing in foreign exchange transactions, until they remit all outstanding Nigerian National Petroleum Corporation, NNPC, funds in their vaults into the Treasury Single Account, TSA.

CBN must review 41 items restricted from FX market – OPS

CBN must review 41 items restricted from FX market – OPS

The Organised Private Sector, OPS, yesterday, insisted that the Central Bank of Nigeria, CBN, must review its policy on the 41 items restricted from official foreign exchange market.
According to the group, the decision is hurting the manufacturing sector in such a way that could no longer be ignored, having led to the closure of many companies and relocation of others from Nigeria to Ghana and other neighbouring countries. It has also led to the refusal to repatriate over $10 billion held offshore by Nigerian businesses.

Paralympics 2016: CAS dashes Russia’s hope

Paralympics 2016: CAS dashes Russia’s hope

Russia’s appeal against the blanket ban imposed by Paralympics officials was rejected Tuesday — ending any hope the country’s Paralympians had of competing in Rio.