{"id":12900,"date":"2017-05-05T17:07:46","date_gmt":"2017-05-05T16:07:46","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=12900"},"modified":"2017-05-05T17:07:46","modified_gmt":"2017-05-05T16:07:46","slug":"sterling-bank-restates-commitment-to-foreign-exchange-availability","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/","title":{"rendered":"Sterling Bank restates commitment to foreign exchange availability\u00a0"},"content":{"rendered":"

Sterling Bank says transparency, continuous engagement, proper documentation and promptness in sending returns of unutilised foreign exchange to the Central Bank of Nigeria are the main factors that helped the bank to escape the regulator’s ban from its Small and Medium Enterprises foreign exchange window.<\/p>\n

The CBN had on Wednesday announced the ban on 16 banks from its “SME foreign exchange Window\u2019\u2019 for violating its guidelines. However, eight banks escaped the regulator’s action.<\/p>\n

These were Sterling Bank, Access Bank Plc, Diamond Bank Plc, Fidelity Bank Plc, Heritage Bank, Jaiz Bank, Sterling Bank Plc, Unity Bank Plc and Zenith Bank Plc.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Speaking on the development, Sterling Bank’s Group Head, Treasury and Financial Institution, Kehinde Wole Olomojobi, said the lender escaped the sanction because it usually engaged the CBN to clarify issues and made sure that any foreign exchange not utilized were returned immediately to the apex bank and same communicated officially.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Sterling Bank says transparency, continuous engagement, proper documentation and promptness in sending returns of unutilised foreign exchange to the Central Bank of Nigeria are the main factors that helped the bank to escape the regulator’s ban from its Small and Medium Enterprises foreign exchange window. The CBN had on Wednesday announced the ban on 16 …<\/p>\n","protected":false},"author":11,"featured_media":12901,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[757],"coauthors":[2392,2393],"class_list":["post-12900","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-sterling-bank"],"yoast_head":"\nSterling Bank restates commitment to foreign exchange availability\u00a0 - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sterling Bank restates commitment to foreign exchange availability\u00a0 - National Wire\" \/>\n<meta property=\"og:description\" content=\"Sterling Bank says transparency, continuous engagement, proper documentation and promptness in sending returns of unutilised foreign exchange to the Central Bank of Nigeria are the main factors that helped the bank to escape the regulator’s ban from its Small and Medium Enterprises foreign exchange window. The CBN had on Wednesday announced the ban on 16 …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-05T16:07:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/05\/images-14.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"290\" \/>\n\t<meta property=\"og:image:height\" content=\"174\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/05\/images-14.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/05\/images-14.jpg\",\"width\":290,\"height\":174},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/\",\"name\":\"Sterling Bank restates commitment to foreign exchange availability\u00a0 - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/#primaryimage\"},\"datePublished\":\"2017-05-05T16:07:46+00:00\",\"dateModified\":\"2017-05-05T16:07:46+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sterling Bank restates commitment to foreign exchange availability\u00a0\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sterling Bank restates commitment to foreign exchange availability\u00a0 - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/sterling-bank-restates-commitment-to-foreign-exchange-availability\/","og_locale":"en_US","og_type":"article","og_title":"Sterling Bank restates commitment to foreign exchange availability\u00a0 - National Wire","og_description":"Sterling Bank says transparency, continuous engagement, proper documentation and promptness in sending returns of unutilised foreign exchange to the Central Bank of Nigeria are the main factors that helped the bank to escape the regulator’s ban from its Small and Medium Enterprises foreign exchange window. 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