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Nigerian central bank imposes restrictions on dollar sales.

Global Banking News-November 7, 2014--Nigerian central bank imposes restrictions on dollar sales

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Global Banking News - 07 November 2014

The Nigerian central bank has announced that it has imposed restrictions on dollar sales.

According to Reuters, the apex bank has banned the sale of dollars to importers of telecom equipment, power generators and finished products. The central bank also restricted lenders and discount houses from placing more than NGN7.5bn each as deposits with the regulator.

The move comes as the naira hit a new intraday low.

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Publication:Global Banking News (GBN)
Date:Nov 7, 2014
Words:115
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