Tuesday, April 23, 2024
BusinessCentral Bank freezes accounts of 392 'currency dealers'

Central Bank freezes accounts of 392 ‘currency dealers’

The National Bank of Ethiopia ordered banks to freeze the accounts of over 392 individuals accused of trading foreign currencies in the parallel market.
Yinager Dessie (PhD), governor of the central bank, has confirmed that their assets have been frozen and the case is now under investigation.
The crackdown is taking place at a time when the difference between the legal market and the parallel market has increased exponentially over the last two months. This week, it climbed to 100 percent.
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