BREAKING: Window for FXPMD has been Thrown Open to every Deposit Money Bank

The window for FXPMD has been thrown to every deposit money bank.  

Application by any intending DMB closed yesterday as per the resolution reached at the meeting of Bank CEOs/Treasurer with the COG yesterday in Lagos. 

With this development, market leadership will be driven by who is able to deliver the best on the following:

•      Buying of Fx;

•      Selling of Fx;

•      Hedging of Fx; and

•      Trade Finance Execution from beginning to the end. 

This will not however change the trajectory of changes in paradigm and appreciation of the new normal that will emerge that will change market leadership, management focus/composition and engender possible mergers & acquisitions in the market.

1.       New FX Policy: The CBN Segregates Banks… Who’s in, Who’s out?

2.      Price Modulation of the Downstream Sector - Taking the Bull by the Legs – May 18, 2016

3.      A Change in Market Sentiments ...5 Signs to Watch! - Afrinvest – Dec 09, 2015

4.      The Address of the CBN Governor  on the new Nigerian Managed Float Exchange Rate System

5.      Revised Guidelines for the Operation of the Nigerian Inter-Bank Foreign Exchange Market

6.      How the CBN Naira-Settled OTC FX Futures Market Will Work

7.      Guidelines for Primary Dealership in Foreign Exchange Products

8.     Impact of a Unified Exchange Rate and Assessment of Playing Field

9.      Flexible Exchange Rate: The Bitter Pill

10.  Implications for Markets as the CBN finally floats the Naira

11.   Wisdom Nuggets – Rescuing and Defending the Naira