February 22, 2025
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Fx

CBN Approves Release of FX Code

Ajibola02 mins

The Central Bank of Nigeria (CBN) has given the green light for the release of the Nigerian Foreign Exchange (FX) Code. The central bank stated that this code will serve as a framework for the banking sector, aimed at fostering ethical practices among authorized dealers in the nation’s FX market. Additionally, the CBN announced that…

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Nigeria’s FX Turnover Increases to N23.95tn

Ajibola02 mins

As of the end of November 2024, the total turnover in the foreign exchange market reached $14.39 billion (N23.95 trillion). This information comes from the FMDQ Markets Monthly Report recently The report indicates that the combined FX turnover for both the spot and derivatives markets was N58.22 trillion and N0.81 trillion, respectively. Notably, the Spot…

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