Just In: CBN Bans 9 Depositor Banks

The Central Bank of Nigeria (CBN) has banned nine deposit money banks (DMBs) from the foreign exchange market, for hiding over $2 billion belonging to Nigerian National Petroleum Corporation (NNPC) from the Treasury Single Account (TSA).

According to Channels TV, President Muhammadu Buhari has been briefed on the breach by the banks, and they have all been mandated to move the monies to the treasury single account.