Nigeria banks crippled

Nigeria Bank
Non-Transferability of Funds from extensive Dutch Auction System (WDAS) Among official Dealers, the apex bank affirmed that banks can no longer use foreign exchange sourced from the official market for inter-bank trading. Such funds should only be used to meet customers require for foreign exchange alone.

It also directed the banks to keep divide books for their inter-bank foreign exchange transactions and WDAS foreign exchange transactions as well as make the books accessible to examiners.

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