The Central Bank of Nigeria (CBN) said on Friday that it would soon unveil a revised foreign exchange manual aimed at deepening market participation and further strengthening the naira.
The announcement was made by Olayemi Cardoso, governor of the CBN, at the Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he explained that the new manual is part of ongoing efforts to reinforce transparency and efficiency in the foreign exchange market.
Cardoso explained that the revised manual is designed to enhance documentation standards, expand participation in the FX market, improve surveillance within the electronic FX management system, and ensure consistency across the board.