NINE NIGERIAN BANKS SUSPENDED FROM FOREIGN CURRENCY TRADING / by Lewis McKinnon

According to reports, nine banks in Nigeria have been temporarily banned from trading foreign currency as a result of outstanding debt to the Nigerian government. It is believed that these nine banks are withholding USD $2.1bn that belongs to the state-owned energy companies, the Nigerian National Petroleum Company (NNPC) and the Nigeria Liquefied Natural Gas (NLNG).