By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Tuesday, May 20, 2025
9News Nigeria
  • HOME
  • EDITORIAL
  • POLITICS
  • NATIONAL
  • SPORTS
  • WORLD
  • BUSINESS
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
9News Nigeria9News Nigeria
Font ResizerAa
Search
  • Editorial
    • OPINION
  • Politics
  • National
    • Breaking News
    • Boko Haram
    • Crime and Investigation
    • Ohanaeze Ndigbo
  • Business
    • Nigerian economy
    • Investment
    • Finance
  • Sports
  • Entertainment
    • Celebrity
    • Entertainment and lifestyle
    • Hollywood
  • World
    • Africa
    • Asia News
    • Australia
    • Europe
  • About Us
    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us
Follow US
Nigeria News

Breaking: CBN Grants Permit To Foreign Banks To Disburse Loans To Nigerians In Dollars

Emmanuel Atseyinku
Last updated: May 10, 2023 6:52 am
By Emmanuel Atseyinku
Share
1 Min Read
SHARE

The Central Bank of Nigeria (CBN) on Monday granted foreign banks permission to give loans to Nigerians and companies operating in Nigeria in dollars.

The apex bank adopted this measure to expand dollar liquidity in Nigeria through foreign bank representatives by authorizing foreign banks to work with their parent firms in obtaining and syndicating foreign currency-denominated loans (dollar loans) to Nigerian companies.

The Guidelines for the Regulation of Foreign Bank Representative Offices in Nigeria, signed by the Director of Financial Policy and Regulation Department, Muhammad Musa, stated that the policy corresponds with the CBN’s mandate to maintain financial system stability.

He stated that the rules are supported by Sections 6(1) and 8(1) of the Banks and Other Financial Institutions Act 2020 (BOFIA), which stipulate that “no foreign bank shall operate in Nigeria without the prior approval of the CBN.”

Share This Article
Facebook Whatsapp Whatsapp Copy Link
What do you think?
Love0
Sad0
Happy0
Surprise0
Angry0
Previous Article Nigerians Labelled Us As ‘Rubber Stamp’ Legislature, Says Senate President, Lawan
Next Article Sheath your swords, support President-elect, tinubu, Ooni of Ife tells Nigerians
Search
Latest News
  • Nigerian man sets wife, 3 children ablaze over alleged infidelity in Abia May 19, 2025
  • 2027: Obidient Movement Debunks Coalition Rumours May 19, 2025
  • BOMADI LGA APC UNITES BEHIND TINUBU, OBOREVWORI FOR 2027 AS CHAIRMAN ANDAYE CHARTS PATH TO VICTORY May 19, 2025
  • Nigeria’s anti-graft agency arrests 120 suspected internet fraudsters in Lagos May 19, 2025
  • We Can’t Have Gov and Another Person in Charge of the State: Nollywood Actress Hilda Criticizes Wike May 19, 2025
  • BREAKING!!! “I am In For Coalition” – Peter Obi Finally Breaks Silence On 2027 VP Deal with Atiku May 19, 2025
  • Court Jails Woman Three Years for N14.5m Fraud In Lagos May 19, 2025
  • Donald Trump reacts to Biden’s prostate cancer May 19, 2025
  • EFCC Arrests 120 Suspected Internet Fraudsters In Lagos May 19, 2025
  • I Had A Cancer, My Thyroid Removed – Popular Nollywood Actress, Mercy Johnson Reveals Shocking Details About Weight Loss May 19, 2025
9News Nigeria
  • Editorial
  • OPINION
  • Inspiration
  • Investigative Reports
  • Featured
  • Interviews
  • About Us
  • Terms And Conditions
  • Privacy Policy
  • Contact Us
World News
  • Africa
  • African Politics
  • Aviation News
  • Australia
  • Global Economy
  • Europe
  • Global Economy
  • Asia News
  • Middle East
  • World
  • World Politics
  • USA
  • USA Politics
News Categories
  • Breaking News
  • National
  • Politics
  • Business
  • Sports
  • Health
  • Crime and Investigation
  • Nigeria Police
  • Nigerian Military
  • Biafra
  • ODUDUWA
  • Ohanaeze
  • Boko Haram
  • National Assembly
  • National History
  • Sober House
  • National Security
Entertainment and Lifestyle
  • Entertainment
  • Entertainment and lifestyle
  • Nollywood
  • Lifestyle
  • Hollywood
  • Celebrity
  • Celebrity Gist
  • Celebrity Gossip
  • Events
  • Family & Relationships
  • Relationship Extra
  • Relationships

You May also Like

EnglandNational

EXCLUSIVE: How Nigerian Critic, Kemi Badenoch Led Conservatives to Worst-Ever Election Defeat

May 13, 2025
African EconomyGlobal Economy

EXCLUSIVE: Nigeria Clears IMF Debt, Still Tops Africa’s Debt Chart to the World Bank

May 10, 2025
9NEWS NIGERIA DAILY NEWS UPDATES BANNER
Hot NewsLatest News

Latest Breaking News Updates from Nigeria Today (May 10, 2025)

May 10, 2025
Latest NewsNational

Minister of Defence Denies Claims of Terrorist Superiority, Highlights Military Advancements

May 7, 2025
HealthNational

Rep. Chike Okafor Calls for Accountability, Funding Boost to Combat Malnutrition in Nigeria

May 6, 2025
EntertainmentEntertainment and lifestyle

EXCLUSIVE: Mercy Chinwo’s Legal Firepower, EFCC Grills VeryDarkMan

May 5, 2025
Show More
  • More News:
  • Europe News
  • National News
  • Politics
  • 9News Nigeria - Nigeria Breaking News
  • Nigeria Politics
  • Sports
  • Imo state
  • Opinion
  • Events
  • National Security
  • Editorial
  • Inspiration
  • Trending news
  • Bible Messages
  • Religion
  • Jesus Christ the saviour
  • The Love of God
  • Crime and Investigation
  • World News
  • Business

9NEWS NIGERIA

  • Editorial
  • OPINION
  • Inspiration
  • Investigative Reports
  • Featured
  • Interviews
  • About Us
  • Terms And Conditions
  • Privacy Policy
  • Contact Us

NEWS CATEGORIES

  • Breaking News
  • National
  • Politics
  • Business
  • Sports
  • Health
  • Crime and Investigation
  • Nigeria Police
  • Nigerian Military
  • Biafra
  • ODUDUWA
  • Ohanaeze
  • Boko Haram
  • National Assembly
  • National History
  • National Security

WORLD NEWS

  • Africa
  • African Politics
  • Aviation News
  • Australia
  • Global Economy
  • Europe
  • Asia News
  • Middle East
  • World
  • World Politics
  • USA
  • USA Politics

ENTERTAINMENT AND LIFESTYLE

  • Entertainment
  • Entertainment and lifestyle
  • Nollywood
  • Lifestyle
  • Hollywood
  • Celebrity
  • Celebrity Gist
  • Celebrity Gossip
  • Events
  • Family & Relationships
  • Relationship Extra
  • Relationships
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?