The Central Bank of Nigeria (CBN) has directed banks to temporarily suspend the payment of dividends to shareholders, defer the payment of bonuses to directors and senior management staff, and refrain from making investments in foreign subsidiaries or embarking on new offshore ventures.
This directive was conveyed in a circular with reference number BSD/DIR/CON/LAB/018/008 dated June 13, 2025, and titled “Letter to All Banks: Temporary Suspension of Dividend Payments, Bonuses and Investment in Foreign Subsidiaries.”
The document was signed by Olubukola A. Akinwunmi, director of the Banking Supervision Department of the CBN.