Tag Archives: shell banks

CBN wants Shell banks abolished in Nigeria

The Central Bank of Nigeria (CBN) has called for the abolition of shell banks in the country, saying they serve as institutions for money laundering. Shell banks are institutions that carry out activities where they are not licensed. The Governor of the CBN, Godwin Emefiele, made the request, in Abuja, on Tuesday, at a public hearing organised by the House ...

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