The Central Bank of Nigeria (CBN), on Tuesday, issued comprehensive guidelines for the operations of the interbank foreign exchange (FX) trading system via the Electronic Foreign Exchange Matching System (EFEMS).
The apex bank pegged the minimum tradable amount at $100,000, with incremental clip sizes of US$50,000 to promote transparency and efficiency in the FX market.
The new guideline is expected to be effective from December 2, 2024.
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