December 22, 2024
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At least 13 killed, many more feared dead as landslides bury Uganda homes
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At least 13 killed, many more feared dead as landslides bury Uganda homes

  • November 28, 2024
Israeli Strikes Kill Civilians in Gaza as Military Expands Operations
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Israeli Strikes Kill Civilians in Gaza as Military Expands Operations

  • November 28, 2024
Dozens Killed as Rebels Overrun Syrian Army Positions in Aleppo
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Dozens Killed as Rebels Overrun Syrian Army Positions in Aleppo

  • November 28, 2024
Roads Reopen in Islamabad Following Overnight Security Operation
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Roads Reopen in Islamabad Following Overnight Security Operation

  • November 27, 2024
Israel-Hezbollah Ceasefire Begins After 14-Month Conflict
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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.
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Nigeria’s Central Bank  Sets $100,000 Minimum for Interbank Forex Trading via Electronic Foreign Exchange Matching System

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

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

  • November 27, 2024
Nigeria’s Central Bank Raises Monetary Policy Rate to 27.50% to Tackle Inflation
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Nigeria’s Central Bank Raises Monetary Policy Rate to 27.50% to Tackle Inflation

  • November 26, 2024
Port Harcourt Refinery begins crude oil processing after protracted delays
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Port Harcourt Refinery begins crude oil processing after protracted delays

  • November 26, 2024