The Central Bank of Nigeria (CBN) has announced its approval of the Nigerian Foreign Exchange (FX) Code, a strategic guideline designed to ensure ethical practices among authorised dealers in the country’s FX market.
In a statement, the apex bank disclosed that the Code aims to foster integrity and transparency within the Nigerian foreign exchange landscape. The official launch is scheduled to take place at the CBN Head Office Auditorium in Abuja on Tuesday, January 28, 2025.
Promoting Ethical Conduct
According to the CBN, the FX Code is a critical initiative to enhance trust and professionalism in the banking sector, specifically in foreign exchange transactions.
“The Central Bank of Nigeria has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market,” the statement read.
What to Expect at the Launch
The launch event promises to be a significant milestone for the Nigerian banking industry as stakeholders convene to discuss the implications of the new guidelines.
Stay tuned to NIGPOST for updates on the FX Code launch and its potential impact on Nigeria’s financial system.
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