CBN bans linked financial entities from extending loans to each other

By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has banned closely linked financial entities from extending loans or guaranteeing the obligations of one another without the bank’s prior approval. The apex bank disclosed this, yesterday, in its Exposure Draft on ring-fencing operations of closely linked entities in the Nigerian financial system. The apex bank stated: […] The post CBN bans linked financial entities from extending loans to each other appeared first on Vanguard News.

By Urowayino Jeremiah