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offshore banks

CBN goes tough, seeks abolition of offshore banks

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.Says offshore transactions serve as conduit for money laundering .Seeks more powers to revoke defaulting banks licences .Wants banks to sell forex at N360/$1 The Central Bank of Nigeria (CBN) is seeking the abolition of offshore banks operating in the country without been licenced locally, saying that such facilities serve as conduits for money laundering. […]

CBN canvasses abolishing offshore banks in Nigeria

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*Seeks more powers to revoke licences *Concurs with Reps on stiffer penalties for banks The Central Bank of Nigeria (CBN) is seeking the abolition of offshore banks operating in the country without been licensed locally, saying that such facilities serve as conduits for money laundering. CBN Governor, Godwin Emefiele made the request on Tuesday, at […]