Federal finance and statistics / Central Bank of Nigeria

Re: Further Reduction In Forex Net Open Position (NOP) Of Banks

Keywords: Further to the circular ref: TED/FEM/GEN/FPC/01/002/09 dated January 15, 2009, we hereby inform all Authorised Dealers that the effective date for the NOP reduction from 10% to 5% of shareholders funds is January 19, 2009 not January 19, 2008 as stated in the circular under reference. Authorised Dealers are enjoined to bring this tothe notice of their customers. Signed by B. Musa AG. DIRECTOR TRADE & EXCHANGE DEPARTMENT