Regulatory Alerts2024-11-29 | FMD/DIR/CON/OGC/040/0012Revised Guidelines for The Nigeria Foreign Exchange Market (NFEM)
The Central Bank of Nigeria (CBN) has released a new set of guidelines for authorized dealers and participants in the Nigeria Foreign Exchange Market (NFEM). These guidelines aim to deepen the market and improve transparency. All legitimate foreign exchange transactions must be conducted with authorized dealers, and unlicensed intermediaries are prohibited. The CBN will be the primary custodian of transaction data and will publish reliable market information on its website.