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Is it true that the Central Bank of Nigeria (CBN) has withdrawn the $462 million that it invested as initial capital in the AFC?

April 26, 2017Bank Capital cbn initial invested Nigeria withdrawn

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Is it true that the Central Bank of Nigeria (CBN) has withdrawn the $462 million that it invested as initial capital in the AFC?

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These funds have not been withdrawn by the CBN but rather deposited in AFC’s name into an escrow investment account with J.P. Morgan pending the conclusion of the ongoing investigation into the CBN’s investment in AFC.