The Bank Directors Association of Nigeria expresses its support for the Central Bank of Nigeria’s directive, urging commercial banks to cease “hoarding” foreign currencies.
In response to the CBN’s concerns about escalating foreign currency exposure, BDAN acknowledges the comprehensive measures outlined in the circular and affirms its commitment to fortifying the nation’s financial system.
The association applauds the CBN’s proactive stance, viewing the regulatory measures as crucial for effective foreign currency exposure management and risk mitigation.
BDAN commends the CBN’s commitment to proactive regulation, encourages banks to comply with the directives, and pledges continuous collaboration to foster a dynamic and resilient financial ecosystem for the benefit of all Nigerians.
