CBN confirms changes to FX market
Written by Joey Shekwonuzhibo on June 15, 2023
the Central Bank of Nigeria, CBN, has informed all authorised dealers and the general public of immediate changes to operations in the Nigerian Foreign Exchange Market.
A statement by the Director of Financial Markets, Angela Sere-Ejembi says it will involve the unification of all segments of the forex market, collapsing all previous windows into one.
The changes include abolishing the segmentation of the FX market into different windows.
All transactions will now be done through the Investors and Exporters, I&E window, Applications for medicals, school fees, and others would continue to be processed through deposit money banks.
