The Central Bank of Ghana has suspended the licenses of two Nigerian banks in the country
The Central Bank of Ghana has suspended the licenses of two Nigerian banks in the country
The Central Bank of Ghana has suspended the foreign exchange license of two Nigerian banks in the country, "First Bank and GT Bank" because they have been found guilty of violating the rules in the conduct of their work.
The central bank, which announced this today, said that the ban on the banks is for one month and it will start working from the 18th of the current month of March.
According to the statement issued by the bank, "it has found some branches of banks that manage foreign exchange transactions and violate the rules of the bank while conducting their transactions" whose licenses will be returned to them after the investigation conducted by the bank.
The suspension of Nigerian banks comes at a time when the foreign exchange market is full of uncertainty, while the central bank of the country is trying to stabilize the market.