2009-03-02 | TED-FEM-FPC-GEN-01-011-09

Re: Further Reduction In Forex Net Open Position (NOP) Of Banks

This is a notification from the Central Bank, addressed to all Authorised Dealers. It corrects an earlier announcement regarding the reduction in Forex Net Open Position (NOP) of banks from 10% to 5% of shareholders' funds. The previously stated effective date was incorrectly stated as January 19, 2008; it has now been corrected to January 19, 2009. Authorised Dealers are requested to inform their customers about this update. This information is provided by Batari Musa, the Acting Director of the Trade & Exchange Department.

Nigeria

Central Bank of Nigeria

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