CBN Instructs Banks to Halt Dividend Payments to Foreign Subsidiaries
Ajibola Olarinoye The Central Bank of Nigeria (CBN) has instructed banks operating under regulatory forbearance to suspend dividend payments and bonuses to their foreign subsidiaries and ventures. This directive was communicated in a circular released on Friday by Olubukola Akinwunmi, the director of banking supervision at the CBN. The CBN stated that this action is…