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The CBN has identified foreign exchange infractions among authorised dealers after reviewing 34 financial institutions in its 2025 Annual ReportThe apex bank conducted joint examinations with the NDIC covering loan portfolios and risk ratings across 17 banks and 3 financial holding companiesCBN also upgraded two key supervisory platforms to improve processing speed, transparency, and governance oversight across the banking sector
The Central Bank of Nigeria (CBN) has uncovered foreign exchange infractions among authorised dealers following a review of 34 financial institutions, even as it found that banks were broadly following existing FX rules.
The findings were published in the CBN’s 2025 Annual Report and Statement of Accounts, which covered supervisory activities carried out to strengthen compliance and protect the stability of Nigeria’s financial system.
The apex bank strengthened banking oversight after identifying FX violations Photo: CBNSource: UGC
The foreign exchange examination assessed compliance across the period from April 1, 2024, to March 31, 2025.
