CBN Uncovers Widespread Irregularities In Undelivered FX Forward Contracts, Cancels Invalid Deals
THE Central Bank of Nigeria (CBN) has revealed extensive irregularities in several undelivered foreign exchange (FX) forward contracts currently under investigation, following a forensic audit conducted by Deloitte. In a document titled “Frequently Asked Questions (FAQ) on the Settlement of Undelivered Forward Contracts,” published Thursday on its website, the Apex Bank detailed numerous compliance violations, […]
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