CBN Bans Foreign Collaterals for Naira Loans
▪︎CBN Governor, Olayemi Cardoso The Central Bank of Nigeria, CBN, on Monday, banned the use of foreign denominated collaterals for naira loans. This was contained in a circular dated April 8, 2024 and directed to all banks by the CBN’s Acting Director of Banking Supervision Department. In the circular titled, “The Use of Foreign-Currency Denominated…