LAGOS, AUGUST 23, 2016 – Central bank of Nigeria has suspended nine banks from the interbank currency market for failing to remit the government’s share of dollar dividends the banks got from the state-owned gas company, banking sources told Reuters on Tuesday.The government’s share of the dividends comes to $2.1 billion.
The suspension comes after the regulator paid $1.2 billion for currency forwards it sold in June at 280 per dollar, the bankers said, further draining its dollar reserves, which is down to $25.7 billion, its lowest in more than 10 years
