BUSINESS NEWS: CBN APPROVES RELEASE OF FX CODE

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The Central Bank of Nigeria (CBN) has said it has approved the release of the Nigerian Foreign Exchange (FX) Code.

The apex bank also announced that the Code would be formally launched next week in Abuja.

According to CBN in a statement, the Code serves as a guideline to the banking industry to promote the ethical conduct of authorised dealers in the country’s FX market.

CBN said: “The Central Bank of Nigeria has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote the ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market.

“The Bank will formally launch the Code at the CBN Head Office Auditorium, Abuja, on Tuesday, January 28, 2025.”