The Central Bank of Nigeria (CBN) has reaffirmed its directive to banks regarding the utilisation of foreign currency (FCY) revaluation gains.
In a circular released by the bank on Thursday and signed by the Acting Director of the Banking Supervision Department, Adetona Adedeji, the CBN advised banks against undertaking such actions.
In the circular, referencing a letter dated 11 September 2023, the CBN emphasised the need for banks to exercise utmost prudence in handling these gains.
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