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In boost to foreign inflows, CBN, FMDQ launch long-term naira contract

…Contracts now up to 5yrs

The Central Bank (CBN) yesterday took a major step towards deepening Nigeria’s financial markets through a collaboration with FMDQ Holdings PLC to launch the much-awaited long-dated FX Futures that extends the maximum contract tenor to up to five years. This implies that 47 new monthly OTC FX Futures contracts, in addition to the existing 13…

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