Regulatory Alerts2015-01-29 | BSD/DIR/GEN/LAB/08/006Added · Updated
Daily Rendition of Net Open Position
The Central Bank of Nigeria issued a letter to all banks, reminding them of the prudential regulation for managing foreign exchange risks. The regulation states that the Net Open Position of foreign currency assets and liabilities should not exceed 20% of a bank's unimpaired shareholder funds. The CBN now requires banks to compute the NOP daily and submit it to the provided email address.
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