Thursday 21 February 2019
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vanguardngr - 10 days ago

Where is $7bn CBN placed with 14 Banks?

THE subject of the narrative, in this column, last week, was the $7bn which Festus Odoko, former CBN Corporate Affairs Director, confirmed had been deposited with 14 Nigerian banks in October 2006. It is not clear how many banks, actually, succeeded in raising the mandatory capital base of N25bn, and the additional N35bn steep threshold, required to manage part of Nigeria’s foreign re nevertheless, on hindsight, CBN may have quietly dropped this clearly ambitious requirement, so as to pursue its declared agenda. Continue reading Where is $7bn CBN placed with 14 Banks? at Vanguard News Nigeria.

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