Cbn bars 9 banks forex market 2 3bn nnpc funds
It appears that you're referring to a news article or a financial report. Here's a breakdown of the information:
- "CBN" likely stands for Central Bank of Nigeria, which is the country's central bank.
- "Bars" is likely a typo and should be "bars" or "blocks", meaning that the CBN has taken action to restrict or block.
- "9 banks" refers to nine commercial banks in Nigeria that were involved in the transaction.
- "Forex market" refers to the foreign exchange market, where currencies are traded.
- "2.3bn" is the amount of money involved in the transaction, which is approximately 2.3 billion Nigerian naira.
- "NNPC" likely stands for Nigerian National Petroleum Corporation, which is the state-owned oil company of Nigeria.
- "Funds" refers to the money or financial resources involved in the transaction.
Based on this information, it appears that the Central Bank of Nigeria has taken action to restrict or block the transfer of 2.3 billion naira from nine commercial banks to the Nigerian National Petroleum Corporation (NNPC) for use in the foreign exchange market. This could be a measure to prevent the misuse of funds or to ensure that the funds are used for their intended purpose.