Regulatory Alerts2025-03-05 | 28/1/2025Statement of Commitment to the Nigeria Foreign Exchange Code
The Central Bank of Nigeria (CBN) has affirmed its commitment to the Nigerian FX Code, which reflects globally recognized best practices in the foreign exchange market. The CBN acknowledges its role as a regulator and commits to consistently regulating FX Market activities in alignment with the principles outlined in the Code. This commitment involves taking appropriate steps to ensure its roles align with these principles, considering the FX Market's size and complexity. The CBN aims to promote stability and transparency in Nigeria's foreign exchange market through this alignment.
STATEMENT OF COMMITMENT TO THE NIGERIAN FX CODE CENTRAL BANK OF NIGERIA
The Central Bank of Nigeria has reviewed FX Global Code and acknowledges that the Code represents a set of principles generally recognised as good practice in the foreign exchange market ("FX Market"). The Central Bank of Nigeria has reviewed the FX Global Code and acknowledges that the Code represents a set of principles generally recognized as good practice in the foreign exchange market ("FX Market"). The Bank confirms that it acts as a regulator to Market Participant as defined by the Code and it is committed to regulate FX Market activities in a manner consistent with the principles of the Code. The Bank confirms that it acts as a regulator to Market Participant as defined by the Code and it is committed to regulate FX Market activities in a manner consistent with the principles of the Code. To this end, the Bank has taken appropriate steps, based on the size and complexity of the FX Market, and therefore align its roles with the principles of the Code. To this end, the Bank has taken appropriate steps, based on the size and complexity of the FX Market, and therefore aligns its roles with the principles of the Code.
Governor, Central Bank of Nigeria Name: OLAYEMI CARDOW Signature: Date: 28/1/25.
Deputy Governor, Economic Policy Name: Muhamad Sun Abdulla Signature: Date: 28.1.25
Director, Financial Markets Department Name: Omolara Omolunde Dolle Signature: Date: 28:01:25