MAN to CBN: Stop banks from punishing manufacturers over unsettled forex obligations

Overdue FX Contracts: Manufacturers Accuse Banks of Incessant Harassment

By Adedapo Adesanya The Manufacturers’ Association of Nigeria (MAN) has claimed that banks were harassing its members over outstanding forward foreign exchange (FX) contracts with the Central Bank of Nigeria (CBN). According to reports by Bloomberg, members have faced penalties, including frozen accounts over the impasse, while others are constantly being harassed. The contracts were […]

Manufacturers lament unfair treatment by some banks over unmet forex forward obligations - Worldstage

WorldStage Newsonline– The Manufacturers Association of Nigeria (MAN) has lamented what it called unfair treatment of manufacturers by some commercial banks over unmet foreign exchange forward obligations. Director-General, MAN, Mr Segun Ajayi-Kadir in Lagos, in a statement, urged the Central Bank of Nigeria (CBN) on speedy and lasting solutions to the issue. He said that as a vital sector of the economy, manufacturers relied heavily on access t…

MAN Seeks CBN Intervention as Forex Dispute Worsens - Economic Confidential

The Manufacturers Association of Nigeria (MAN) has decried what it described as “unwholesome treatment” of its members by some commercial

Fx Forward Crisis: Manufacturers must be protected, not punished

“We did not create this problem, but we are paying for it.” – MAN DG Nigeria’s embattled manufacturing sector is once again under pressure — this time from a worsening storm over unsettled FX forward obligations, with manufacturers caught in the middle of a financial impasse between commercial banks and the Central Bank of Nigeria …

MAN Blames Commercial Banks For Forex Crisis Choking Sector - InsideBusiness - Business News in Nigeria

The Manufacturers Association of Nigeria (MAN) has raised fresh concerns over what it describes as aggressive and unjustified actions by commercial banks amid unresolved foreign exchange (forex) forward obligations—actions the group says are choking the country’s manufacturing sector and threatening job security. In a statement by its Director General, Segun Ajayi-Kadir, MAN alleged that many of its members have had their corporate and personal …

MAN to CBN: Stop banks from punishing manufacturers over unsettled forex obligations

The Manufacturers Association of Nigeria (MAN) has raised alarm over what it describes as the unjust treatment of its members by certain commercial banks in connection with unmet foreign exchange (Forex) forward obligations. The post MAN to CBN: Stop banks from punishing manufacturers over unsettled forex obligations appeared first on Nairametrics.