CBN Approves Release of Foreign Exchange Code

The Central Bank of Nigeria (CBN) has announced the approval and upcoming launch of the Nigerian Foreign Exchange (FX) Code.

In a statement released by the apex bank, the Code is designed to serve as a guideline for the banking industry, promoting ethical practices among authorised dealers in the country’s foreign exchange market.

“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 formal launch of the FX Code is scheduled to take place on Tuesday, January 28, 2025, at the CBN Head Office Auditorium in Abuja.