September 30, 2016/CBN In its attempt to ensure strict compliance with all extant regulations; particularly those relating to foreign exchange transactions, Financial Action Task Force (FATF) and Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT), the CBN has decided to enhance the minimum qualifications for the position of the Chief Compliance […]
Updates
IMF Launches New SDR Basket Including Chinese Renminbi, Determines New Currency Amounts
September 30, 2016/IMF Today, the International Monetary Fund (IMF) announced the launch of the new Special Drawing Right (SDR) valuation basket including the Chinese renminbi (RMB), and the new currency amounts that will determine the value of the SDR during the new valuation period. As approved by the Executive Board […]
Naira Breaks Historic Low, Hits 490/$, Strengthens 475/$ in Parallel Market
By InvestAdvocate Lagos (INVESTADVOCATE) – The Nigerian naira on Friday broke a historic low of N490/$, in multiple sessions before eventually settling at N475 per dollar in the parallel segment of the FX market, according to Cordors currency tracker report. Despite the Central Bank reinforcing its commitment to supporting the […]
