2011-10-20 | TED.PFO.FPC.GEN.01.024

Re: Reduction of Foreign Exchange Net Open Position (NOP)Limit of Banks

The Central Bank of Nigeria's Trade and Exchange Department has issued a circular increasing the foreign exchange Net Open Position Limit (NOP) for Authorised Dealer Banks from 1% to 3% of their net shareholders' funds, effective October 24th, 2011. This supersedes an earlier circular on the same subject. Non-compliance may result in sanctions.

Nigeria

Central Bank of Nigeria

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