Alert: Central Bank of Nigeria Circular FMD/DIR/PUB/CIR/001/011

Title: Circular to All Authorised Dealers - Financial Markets Price Transparency

Summary: Financial institutions are requested to quote and display prices in a transparent manner when conducting financial market transactions. The Central Bank of Nigeria warns against the practice of reporting inaccurate and misleading information, such as underreporting transaction rates and using "second cheques." Such behavior is considered market manipulation and will be sanctioned. The CBN emphasizes the importance of a transparent and well-functioning financial market and urges stakeholders to comply with its rules and guidelines.

Posted on: Monday, January 29, 2024

Download: FMD/DIR/PUB/CIR/001/011