The Central Bank of Nigeria (CBN) has approved the release of the Nigerian Foreign Exchange (FX) Code, which will serve as a guideline for ethical conduct among authorised dealers in the country’s FX market.
In a statement, the apex bank announced that the formal launch of the FX Code is scheduled to take place at the CBN Head Office Auditorium in Abuja on Tuesday, January 28, 2025.
“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 the ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market,” the statement read.
The FX Code is expected to enhance transparency and integrity in Nigeria’s foreign exchange operations, aligning with global best practices in financial market regulation.
