CBN Removes Cap Spread On Interbank FX Transactions 

In a new set of guidelines, the CBN has removed the ±2.5 per cent cap spread on interbank FX transactions. 

The circular,  signed by Duke, Omolara Omotunde, the Director, Financial Markets Department, dated February 8 addressed to “All Authorized Dealers”, also notes that restrictions on the sale of interbank proceeds have also been removed.

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