Regulators | |
Regulators | |
2160 VIEWS | |
![]() |
Tuesday, January 13, 2015 10.25AM/CBN
Further to the Circular Ref: TED/FEM/FPC/GEN/01/029 of December 18, 2014, authorized dealers are hereby notified that the daily Foreign Currency Trading positions of banks have been reviewed with immediate effect.
Accordingly, authorized dealers are required to maintain 0.1% maximum open limit of their Shareholders' Fund (SHF) unimpaired by losses as Foreign Currency Trading Position at close of each business day.
In addition, banks are required to utilize funds purchased from the autonomous/interbank Foreign Exchange Market within 72hours from the value date, failing such funds must be returned to the CBN for re-purchase at the Bank's buying rate.
Please note and ensure strict compliance.
President-Elect Joe Biden Taps Gary Gensler as Next SEC Chairman |
January 19, 2021 |
CBN Revokes Licences of 42 MFBs, NDIC Begins Verification of Depositors |
December 21, 2020 |