2014-12-17 | TED/FEM/FPC/GEN/01/026

Foreign Exchange Trading Positions of Banks at the close of each Business Day

The Central Bank of Nigeria has observed instability in the foreign exchange market and its impact on exchange rates. To address this, the bank has temporarily reduced the Foreign Exchange Trading Position of authorized dealers to zero percent, down from the previous 1% of Shareholder's Funds unimpaired by losses. Any violation of this directive will result in sanctions, including potential suspension from the Foreign Exchange Market.

Nigeria

Central Bank of Nigeria

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