2008-12-15 | BSD/DIR/CIR/GEN/VOL.02/018

Reduction in the Net Open Position of Banks

The Central Bank of Nigeria has approved a reduction of banks' foreign exchange Net Open Position (NOP) from 20% to 10% of shareholders funds, effective December 15th, 2008. Authorized Dealers must strictly comply with this limit in their daily foreign exchange transactions, or face appropriate sanctions.

Nigeria

Central Bank of Nigeria

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