2024-01-31 | TED/FEM/PUB/FPC/001/001

Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks

The Central Bank of Nigeria is concerned about banks' growing foreign currency exposures and is implementing prudential requirements to manage risks and avoid potential losses. Banks must limit their Net Open Position (NOP) to 20% short or 0% long of shareholders' funds and meet other requirements, including maintaining liquid foreign assets and adopting adequate treasury and risk management systems. Non-compliance will result in sanctions or suspension from the foreign exchange market.

Nigeria

Central Bank of Nigeria

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