MetroBusinessNews

Some banks have breached FX borrowing limit: central bank

CBN
CBN

CBN said on Thursday some commercial lenders have breached its regulatory limit of foreign currency borrowings due to the recent fall in the value of the naira.

In a remedial action, the regulator increased the foreign currency borrowing limit for lenders to 125 percent of their respective shareholders’ fund from 75 percent previously, it said in a new circular seen by Reuters on Thursday.
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