How CBN’s new FX Code will enhance market liquidity

The Central Bank of Nigeria (CBN) has released a new Foreign Exchange (FX) code aimed at enhancing liquidity, transparency and guiding market participants. The code represents a set of principles widely recognised as good practices in the global foreign exchange market. The CBN, in its regulatory and supervisory role, crafted the FX Code to address risks in Nigeria’s evolving financial landscape while strengthening the integrity and functionality of the foreign exchange market. According to the document seen by BusinessDay, the FX Code wa