CBN Introduces Electronic Transaction System To Reduce Speculations …C0NTINUE READING HERE >>>
The Central Bank of Nigeria (CBN) has announced the introduction of electronic foreign exchange matching system for Foreign Exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM).
The new electronic platform is to be implemented not later than December 1, 2024, according to a circular that was signed by the director, financial markets department at the CBN, Omolara Duke, on Thursday night.
THE central bank said there will be a 2-week test running in the month of November 2024 for the scheme. CBN said authorised FX dealers would subsequently conduct all foreign exchange…
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