CBN okays release of FX code

The Central Bank of Nigeria has given the green light for the release of the Nigerian Foreign Exchange (FX) Code, which is a big deal for the country's foreign exchange market. This code is basically a guideline for banks and other authorized dealers to promote ethical conduct and transparency in their foreign exchange transactions. The CBN wants to ensure that everyone involved in the foreign exchange market is playing by the rules and maintaining the highest standards of professionalism and integrity.

The official launch of the FX Code is scheduled to take place on January 28, 2025, at the CBN Head Office Auditorium in Abuja. This move is part of the CBN's broader strategy to strengthen the governance and transparency of Nigeria's foreign exchange market. The code will provide clear guidelines on what's expected of market participants, and it'll help to deepen the foreign exchange market by promoting ethical conduct and transparency.

Overall, this is a positive development for Nigeria's economy, and it's a step in the right direction towards promoting transparency and accountability in the foreign exchange market. 

https://dailypost.ng/2025/01/22/cbn-okays-release-of-fx-code/