CBN Lifts FX Ban On all Commercial Banks Sanctioned Last Week Over non-remittance of NNPC funds.

The Central Bank of Nigeria has lifted the restriction on Foreign Exchange transactions it placed on 9 commercial banks last week for failing to remit $2.12 billion belonging to the nation’s oil corporation, the Nigerian National Petroleum Corporation (NNPC), into the Treasury Single Account TSA. The nine banks comprised of three tier-one lenders and six tier-two deposit money banks.