The Central Bank of Nigeria (CBN) has announced the approval of the Nigerian Foreign Exchange (FX) Code, set to be formally launched next week in Abuja.

In a statement, the apex bank revealed that the FX Code will serve as a guideline for the banking industry, aiming to uphold ethical conduct among authorized dealers in the country’s foreign exchange market.

“The Central Bank of Nigeria has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote the ethical conduct of authorized dealers in the Nigerian Foreign Exchange Market," the statement read.

The official launch is scheduled to take place at the CBN Head Office Auditorium in Abuja on Tuesday, January 28, 2025.