The Central Bank of Liberia (CBL) and the Central bank of Nigeria (CBN) have signed a memorandum of understanding (MoU) in Monrovia to share supervisory information and enhance cooperation in banking supervision.
The Governor Central Bank of Nigeria, Sanusi Lamido Sanusi, who signed on behalf of the Nigerian government during a one-day visit to Liberia Thursday, cautioned subsidiaries of Nigerian Banks operating in the country against capital flight.
He said he was delighted over the immense transformations taking place in the banking sector of Liberia, and pledged his country’s commitment in helping to reverse the negative trends in the Liberian banking sector, given the positive role Nigeria has played in restoring lasting peace to Liberia.
There are an estimated five Nigerian banks operating in the country. They include Access Bank, EcoBank, UBA.
The Governor of the Central Bank of Liberia, Dr. Mills Jones, who signed on behalf of the Liberian government, described the MOU as another means of strengthening the good relations between Nigeria and Liberia.
He said he was delighted over the enormous contributions Nigeria continues to make towards Liberia’s recovery after years of civil conflict which devastated the country’s economy.
Source African Press Agency
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