Further to our Circular Ref: TED/FEM/FPC/GEN/01/020 of October 28, 2014, which required all authorized dealers to utilize CBN intervention funds within 48hours of delivery, we write to inform all authorized dealers and the general public that with effect from the date of this circular, funds purchased by Banks/Customers at the interbank foreign exchange market must also be utilized within 48 hours from the date of purchase, failing which they should be returned to CBN for repurchase at the Bank's buying rate.
The Nigerian Stock Exchange (NSE) is putting final touches to the Year End review for the NSE 30, NSE 50 and the five Sectoral Indices of The Exchange -the NSE Banking, the NSE Consumer Goods, the NSE Oil & Gas, NSE Industrial and the NSE Insurance. The composition of these indices after the review will be effective on January 1, 2015. The review will witness the entry of some major companies and exit of others.
In furtherance of its mandate to ensure an efficient payments and settlement system, the Central Bank of Nigeria, in collaboration with the MICR Technical Implementation Committee (MTIC), conducted the accreditation of the Cheque printers in Nigeria for 2014. This was in line with the provisions of the Nigeria Cheque Printers Accreditation Scheme (NICPAS) qualification criteria.
Notice is hereby given that, the effective date of Article 170 of the Rules and Regulations Governing Dealing Members, titled Trading Halts Due to Extraordinary Market Volatility, has been deferred. Article 170 will not become effective on 1 December 2014 as previously announced.
As part of efforts aimed at enhancing foreign investors' participation in the Nigerian capital market, The Nigerian Stock Exchange has concluded arrangements to embark on a roadshow to Asia from December 1 - 5, 2014. The high level investment delegation, comprising listed companies, market operators and top Nigerian government officials will visit Singapore, Hong Kong and Beijing with the objective of developing partnerships and improving deal flow into the Nigerian capital market.
The Nigerian Stock Exchange has eventually delisted four (4) erring quoted firms from the daily official list effective 24th November, 2014 following their failure to regularize their listing status after several notice to do so
The Monetary Policy Committee (MPC) met on November 24th and 25th 2014 against the backdrop of moderate but uneven growth in the global economy and buildup of vulnerabilities in the domestic economy. In attendance were all 11 members, following the expiration of the tenure of Dr. Kingsley C. Moghalu as a Deputy Governor of the Bank on 5th November 2014.
Further to our circular Ref: TED/FEN/FPC/GEN/01/021 of November 06, 2014 with respect to the above subject matter, we write to inform you that the workshop has been rescheduled to ensure adequate representation from all Authorized Dealers in view of the importance of the workshop
This is to inform off Authorized Dealers and the General Public that we have observed that some Authorized Dealers have been indulging in the sole of foreign exchange for items which are not supported with necessary shipping documents, particularly on open account basis.