December 26, 2024
Blog
Roads Reopen in Islamabad Following Overnight Security Operation
Now Global

Roads Reopen in Islamabad Following Overnight Security Operation

  • November 27, 2024
Israel-Hezbollah Ceasefire Begins After 14-Month Conflict
Now Global

Israel-Hezbollah Ceasefire Begins After 14-Month Conflict

  • November 27, 2024
The Central Bank of Nigeria (CBN) has introduced a minimum trade value of $100,000 for interbank foreign exchange transactions conducted through the Electronic Foreign Exchange Matching System (EFEMS). The directive, dated 25 November 2024, was signed by Dr Omolara Duke, Director of the Financial Markets Department. The CBN stated that the move aims to enhance transparency, efficiency, and compliance within Nigeria’s foreign exchange market. To support this, Bloomberg’s BMatch has been designated as the official order-matching platform for interbank FX trading. The new rules also stipulate that the $100,000 minimum trade value will include incremental clip sizes of $50,000, allowing for flexibility in transaction sizes. The EFEMS is designed to streamline interbank forex trading, minimise counterparty risks, and enforce adherence to CBN regulations.
Business News News Today In the News

Nigeria’s Central Bank  Sets $100,000 Minimum for Interbank Forex Trading via Electronic Foreign Exchange Matching System

  • November 27, 2024
Marketers Raise Alarm Over Petrol Pricing Disparities Between NNPCL and Dangote Refinery
News Today In the News

Marketers Raise Alarm Over Petrol Pricing Disparities Between NNPCL and Dangote Refinery

  • November 27, 2024
Ex-Kogi Governor Yahaya Bello Pleads Not Guilty to 16-Count Charges brought against him
News Today In the News

Ex-Kogi Governor Yahaya Bello Pleads Not Guilty to 16-Count Charges brought against him

  • November 27, 2024
Funsho Doherty Urges Leaders to Prioritise Public Interest in Addressing Economic Woes
News Today In the News

Funsho Doherty Urges Leaders to Prioritise Public Interest in Addressing Economic Woes

  • November 27, 2024
Prime Minister Netanyahu Announces Draft Ceasefire with Hezbollah After Air Strikes
Now Global

Prime Minister Netanyahu Announces Draft Ceasefire with Hezbollah After Air Strikes

  • November 27, 2024
Toke Makinwa Calls for Prioritising Growth Over Early Marital Commitments
Entertainment News

Toke Makinwa Calls for Prioritising Growth Over Early Marital Commitments

  • November 27, 2024
Rohr Reveals Passion, Not Money, Led Him to Take Benin Job
Ball Sports Now Sports

Rohr Reveals Passion, Not Money, Led Him to Take Benin Job

  • November 27, 2024
Nigeria’s Foreign Reserves Hit $40.88 Billion
Business News

Nigeria’s Foreign Reserves Hit $40.88 Billion

  • November 27, 2024