The Central Bank of Nigeria (CBN) has taken a bold step towards strengthening the country’s foreign exchange market with the introduction of the Nigeria Foreign Exchange Code (FX Code). With this move, Nigeria aligns with global financial hubs like the United Kingdom and Hong Kong, reinforcing transparency, governance, and compliance in FX transactions.
In this newsletter, DETAIL provides an in-depth analysis of the CBN FX Code, its fundamental principles, and implications for market participants—from commercial banks to investment firms. What does this mean for your business? How will it reshape FX operations in Nigeria?
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