April 13, 2017 / 10:46 AM / 5 months ago

Some Nigerian banks have breached FX borrowing limit: central bank

LAGOS, April 13 (Reuters) - Nigeria’s central bank said on Thursday some commercial lenders have breached its regulatory limit of foreign currency borrowings due to the recent fall in the value of the naira.

In a remedial action, the regulator increased the foreign currency borrowing limit for lenders to 125 percent of their respective shareholders’ fund from 75 percent previously, it said in a new circular seen by Reuters on Thursday. (Reporting by Chijioke Ohuocha Editing by Jeremy Gaunt)

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