Nigeria, Jan. 31 -- The Central Bank of Nigeria on Wednesday raised concerns over the increase in foreign currency exposures among Nigerian banks.

In a bid to manage risks and prevent potential losses with systemic implications, the CBN issued stringent lending requirements for commercial banks.

The requirements are contained in a circular addressed to all banks and signed by the duo of the apex bank's Director of Trade and Exchange, Hassan Mahmud, and the Director of Banking Supervision, Rita Sike.

The bank expressed worry over the increasing incentive for banks to maintain excess long foreign currency positions, exposing them to various foreign exchange risks.

The measures include restrictions on the overall foreign currency assets ...