The past couple of months has seen the Central Bank Of Nigeria, CBN introduce various measures on foreign exchange trade in a bid to stabilize the Naira.
However, operators actively involved have been complaining about some of these restrictions and the CBN has started talks with banks and currency dealers on how manage the situation while still maintaining stability in the Naira.
According to reports from This Day newspaper, the Financial Markets Dealers Association (FMDA), a Lagos-based industry body, have come up with a proposal to recommend ways to increase trading and liquidity in the foreign-exchange market, while at the same time avoiding speculative demand that might significantly weaken the Naira.
However, CBN spokesman, Ibrahim Mu'azu says the CBN hasn't made any decision to change the trading rules currently in place.
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