The Central Bank of Nigeria (CBN) has announced the introduction of the Electronic Foreign Exchange Matching System (EFEMS), for Foreign Exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM).
The bank said the new system would be implemented not later than 1 December, 2024.
In a statement dated 2 October, signed by the Director of the Financial Markets Department, Omolara Duke, the CBN said there will be a 2-week test run in the month of November.
According to…
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