CBN’s Circular on Further Liberalization of the Inter-Bank Foreign Exchange (FX) Market.
The Central Bank of Nigeria (CBN), in its efforts to further develop the Nigerian FX market, continues to embark on initiatives that serve to improve the FX market structure. Consequently, the CBN hereby issues the directives contained in this circular.
Click to download the CBN’s Circular on Further Liberalization of the Inter-Bank Foreign Exchange (FX) Market
The circular amongst other things provides that authorised Dealers may defease their excess foreign currency trading positions to other Authorised Dealers without seeking prior approval from the CBN.
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