Private forex investment club in nigeria. The Central Bank of Nigeria (CBN), in a continuing effort to deepen the foreign exchange (FX) market and accommodate all FX obligations, hereby announces a special window for Investors, Exporters & End-users (hereinafter referred to as the “Investors' & Exporters' FX Window" or the “Window").

Private forex investment club in nigeria

Setting up an Investment Club

Private forex investment club in nigeria. The PIC is an investment scheme that pools funds from staff/group of people/friends for investment in preferred asset class(es).

Private forex investment club in nigeria

Friday, April 21, 5: The purpose of this Window is to boost liquidity in the FX market and ensure timely execution and settlement for eligible transactions. Permitted Transactions Transactions eligible to access the Window include: The above permitted invisible transactions a and Bills for Collection b are eligible to purchase foreign currency i. Any other trade-related payment obligations at the instance of the customer. Participants The supply of foreign currency to the Window shall be through portfolio investors, exporters, Authorised Dealers and other parties with foreign currency to exchange to Naira.

The CBN shall also be a market participant at this Window to promote liquidity and professional market conduct. Participants are advised to ensure that all trade conversations are recorded and auditable.

Therefore FMDQ shall publish on its website www. The following conditions shall apply: Where such funds are sold to other Authorised Dealers, the purchased funds shall only be sold by the buying Authorised Dealer to its customers. An attestation of this compliance must be provided by the buying Authorised Dealer to the selling Authorised Dealer. The funds purchased cannot be held in position over night by the buying Authorised Dealer or sold to another Authosed Dealer.

All documentation requirements for permitted transactions shall apply. Authorised Dealers shall render daily returns hard and soft copy, in a format to be communicated by the CBN of all transactions in this market to the Directors, Financial Markets and Banking Supervision Departments, Central Bank of Nigeria.

Authorized Dealers shall provide the market with required FX hedges including forwards, swaps, futures or options. The above options shall be made available under the following conditions: Option A , may source for the foreign currency, i. Any settlement option i. This Circular takes effect from April 24, Foreign Exchange Payment for Small-scale Importation.

Currency Pair to Watch: Operational Requirements The following conditions shall apply: Foreign Exchange Payment for Small-scale Importation 3. You would be the first to know the latest happenings around the Financial Market on Markets. Naira Stability, Policy Stability December 05, All One Min News. Doing Business in Nigeria. Mobile Money and Telcos. State and Local Govts. To receive our NEW investment newsletter containing intelligent investing news, data, analysis and research, type in your e-mail address.

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