RegAlertRule · CBN · 2 Mar 2009 · TED-FEM-FPC-GEN-01-011-09
Re: Further Reduction In Forex Net Open Position (NOP) Of Banks
This is a notification from the Central Bank, addressed to all Authorised Dealers. It corrects an earlier announcement regarding the reduction in Forex Net Open Position (NOP) of banks from 10% to 5% of shareholders' funds. The previously stated effective date was incorrectly stated as January 19, 2008; it has now been corrected to January 19, 2009. Authorised Dealers are requested to inform their customers about this update. This information is provided by Batari Musa, the Acting Director of the Trade & Exchange Department.
09 46237811 09 46237809 E-mail address: ted@cenbank.org OUR REF: TED/FEM/GEN/FPC/01/010/09 February 2, 2009 TO ALL AUTHORISED DEALERS RE:FURTHER REDUCTION IN FOREX NET OPEN POSITION (NOP) OF BANKS Further to the circular ref: TED/FEM/FPC/GEN/01/002/09 dated January 15, 2009, we hereby inform all Authorised Dealers that the effective date for the NOP reduction fro 10% to 5% of shareholders funds is January 19, 2009 and not January 19, 2008 as stated on the circular under reference.
Authorised Dealers are enjoined to bring this to the notice of their customers.
BATARI MUSA
AG. DIRECTOR
TRADE & EXCHANGE DEPARTMENT
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
Lineage: No known changes
RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.
The links and the sentences they come from (1)
- Amends
- Circular No. 2 dated 2009-01-15Not in RegAlert
“Further to the circular ref: TED/FEM/FPC/GEN/01/002/09 dated January 15, 2009, we hereby inform all Authorised Dealers that the effective date for the NOP reduction fro 10% to 5% of shareholders funds is January 19, 2009 and not January 19…”
Similar documents from other regulators
BNANotice No. 14/2019 of December 2 on Foreign Exchange Position LimitsAngola · 2019-12-02
BBFEPD Circular Letter No. 47: Regarding approved 'Open Position Limit'Bangladesh · 2022-12-29
BCRACircular LISOL 1-1115: Net Foreign Currency Position. AdjustmentsArgentina · 2025-08-29
RBIExclusion of Swap Positions from NOP-INR Calculation for AD Cat-I BanksIndia · 2026-06-08
More like this from CBN
We email you every new CBN publication the day it's published.
Source: Central Bank of Nigeria — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated
FX rules change often. Get an email the day any regulator we track changes its foreign-exchange rules.