Nigerian bankers, FX traders, to meet CBN on currency trading – treasury source

Nigerian currency dealers and bank chiefs will meet central bank officials on Friday to discuss trading under the new interbank foreign exchange regime, a treasury source said.

The central bank on Wednesday said it would begin a market-driven foreign currency trading next Monday, abandoning its 16-month peg, which overvalued the naira and harmed investments.

An association of currency dealers, called Financial Market Dealers Association (FMDA), met on Thursday to evaluate the new policy and determine how trading will work, the treasury source said.