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CBN Directs Banks to Sell Excess Dollars - MegaIcon Magazine
The Central Bank of Nigeria (CBN) has issued a directive mandating Deposit Money Banks (DMBs) to divest themselves of excess dollar holdings by the latest deadline of February 1, 2024. The CBN, in a circular released on Wednesday titled "Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks," expressed concern over the growing trend