entral Bank of Nigeria
Financial Markets Departn Central Business District. Cadastral lot 33, Abubakar Tafawa Balewa nail: info@cbn.gov.nq Vebsite www.cbn.gov.na .M.B. 0817, Garki, Abuja - Nigeria REF: FMD/DIR/PUB/CIR/001/008 DECEMBER 29, 2023 CIRCULARS TO AUTHORISED DEALERS AUTHORISED FINANCIAL MARKETS SIGNATORIES AND DEALING MANDATES To standardize the dealing procedures undertaken by financial institutions with the Financial Markets Department (FMD) of the Central Bank of Nigeria (CBN), all banks and non- bank financial institutions are hereby directed to provide their signature mandate for financial markets transactions directly to the FMD and also required to advise the FMD of all authorised dealers and the approved dealing mandates for all designated officers.

The dealing mandate should include approved products and transaction limits for each designated officer and must be within approved delegated authority parameters. A sample format is attached for guidance purposes. Each submission must include the parameters listed below and reviewed on an annual basis. Changes however are expected to be promptly advised to the FMD;

1. Full Names and designation for all officers authorised to deal in financial markets products 2. The approved level of authority and the transaction limit by staff listed in the mandate.

2. Signature of authorised staff.

This requirement is necessary to improve the standards of financial market practices in Nigeria and enhance the authentication process of all transactions with financial institutions. Kindly submit via the email address infoFMD@cbn.gov.ng Please note that your submission must be received by Friday, January 12, 2024.

Signed Duke, Omolara O. (Ph.D.)
Director, Financial Markets Department

Mandate Signatory Template

NAME OF INSTITUTION
Validity December 31, 2024 A)
AUTHORISED FINANCIAL MARKETS DEALERS
Please note a maximum of 3 names is allowed per product

FX Spot and Forwards
NAME	EMAIL	PHONE	TITLE OR	SIGNATURE	TRANSACTION
	DESIGNATION	LIMIT (USD)
1
2
3
FX Swaps
NAME	EMAIL	PHONE	TITLE OR	SIGNATURE	TRANSACTION
	DESIGNATION	LIMIT (USD)
1
2
3
Repo/Reverse Repo
NAME	EMAIL	PHONE	TITLE OR	SIGNATURE	TRANSACTION
	DESIGNATION	LIMIT (NGN)
1
2
3	Open Market Operations (OMO)
NAME	EMAIL	PHONE	TITLE OR	SIGNATURE	TRANSACTION
	DESIGNATION	LIMIT (NGN)
1
2
3	Government Securities NTBs and FGN Bonds
NAME	EMAIL	PHONE	TITLE OR	SIGNATURE	TRANSACTION
	DESIGNATION	LIMIT (NGN)
1
2
3

B) AUTHORISED FINANCIAL MARKETS SIGNATORIES	A + B
	B + B
	A + C
	VALID COMBINATION
NAME	EMAIL	PHONE	DESIGNATION	SIGNATURE	Category (A,B, C..)
1
2
3	C) SIGNATORIES AUTHORISED TO CHANGE MANDATES	A + B
	B + B
	VALID COMBINATION	A + C
NAME	EMAIL	PHONE	DESIGNATION	SIGNATURE
Jl
2
3

AUTHORISED SIGNATORY 1 AUTHORISED SIGNATORY