BNP Paribas, Citi Close Ivory Coast Units

BNP Paribas, Citigroup and Nigerian Access Bank have temporarily suspended operations in Ivory Coast.

BNP Paribas, Citigroup and Nigerian Access Bank have temporarily suspended operations in Ivory Coast, The Wall Street Journal reports. The move was initiated by the current political turmoil in the African nation. The Central Bank of West African States has warned lenders that dealing with the Ivory Coast regime will place banks at risk of being sanctioned. Societe Generale’s Ivory Coast unit, Societe Generale Industrie Cote d’Ivoire, has not suspended its operations.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.