CBN Sanctions Banks for frustrating Small Businesses

The Central Bank of Nigeria (CBN) has barred at least 12 deposit money banks (DMB) from the SME window of the foreign exchange market for flouting regulations, as it relates to small businesses. A senior official of the CBN told TheCable that the financial regulator took the decision to bar the erring banks based on field reports, which revealed that only eight banks had sold forex to via IFTTT