In response to persistent complaints that some Deposit Money Banks have deliberately frustrated efforts by many Small and Medium Enterprises to access forex from the new window created by the Central Bank of Nigeria, CBN, the apex Bank barred all but eight banks from dealing in the SME wholesale forex window.
The financial regulator, it was gathered, took the decision to bar the erring banks based on field reports, which revealed that only eight banks had sold forex to the SMEs segment since the inception of the new window.