The Central Bank of Nigeria has published a Statement of Commitment to the Nigerian Foreign Exchange (FX) Code, confirming that it will regulate FX market activities in a manner consistent with the principles of the FX Global Code. The statement records the Bank’s review of the FX Global Code and recognises it as a set of generally accepted good-practice principles for the FX market. It also confirms that the Central Bank of Nigeria acts as a regulator to “Market Participant” as defined by the Code and has taken steps proportionate to the size and complexity of the FX market to align its roles with the Code’s principles.
Central Bank of Nigeria 2025-03-07
Central Bank of Nigeria issues statement of commitment to regulate the FX market in line with the Nigerian FX Code
The Central Bank of Nigeria has issued a Statement of Commitment to the Nigerian Foreign Exchange Code, aligning its regulation of FX market activities with the FX Global Code principles. The Bank acknowledges the FX Global Code as a set of good-practice principles and confirms its role as a regulator to "Market Participant" as defined by the Code.