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JUST IN ! CBN Bans Use of Foreign Currencies as Collateral for Naira Loans
The Central Bank of Nigeria has formally banned all banks in Nigeria from using foreign currencies as collateral for naira loans. The apex bank made this known in a circular uploaded to its website on Monday. It said it had observed the use of FCY by bank customers as collateral for naira loans and, therefore,…
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‘Take My Wife as Collateral, Give Me Loan,’ – Obi Cubana Reacts to Desperate Offer
Socialite and billionaire businessmen, Obinna Iyiegbu, better known as Obi Cubana, has reacted after a yet to be identified man offered his wife as collateral for a loan. The man (unknown) desperately in need of funds, took to the streets of Lagos to seek a loan to build his laundry business, and then offered top…