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Sunday, June 23, 2024
Home Business FOREX TRADE CBN RELEASE GUIDE LINES TO  CURB BANKS’ FOREX...

FOREX TRADE CBN RELEASE GUIDE LINES TO  CURB BANKS’ FOREX SPECULATION.

The Central Bank of Nigeria (CBN) has released a new circular addressing suspected cases of excessive foreign currency speculation from Nigerian banks.
The new circular introduces a set of guidelines aimed at reducing the risks associated with these practices.
The circular, titled “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks,” highlights the CBN’s concerns over the growing trend of banks holding large foreign currency positions.
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