The Central Bank of Nigeria, CBN, has confirmed the operational changes to the foreign exchange market.
It announced the cessation of RT200 Rebate Scheme and the Naira4Dollar Remittance Scheme, with effect from June 30, 2023. “The operational rate for all government-related transactions shall be the weighted average rate of the preceding day’s executed transactions at the I&E window, calculated to two decimal places.
“Reintroduction of Order Book to ensure transparency of orders and seamless execution of trades. The operational hours of trades shall be from 9am to 4pm, Nigeria time.
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