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McGboye's avatar

I'm really not sure the CBN did anything wrong here. If, instead of giving that money to CBN, the banks instead kept it in their lockers and didn't touch it for a whole year, they still would have recorded the same humongous fx gain, no? The only advantage the banks gained here seems to be whatever interest they earned on those securities (I'm just going with your explanation).

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Egwuom Victory Delight's avatar

The banks will always do what is in the interest of the shareholders, it's what they are expected to do. My question is did the CBN act in the interest of its own shareholders i.e. the Nigerian people? If they didn't, are there any penalties for this level of mismanagement?

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