Washington,DC — The Central Bank of Nigeria (CBN) has once again suspended the nation-wide implementation of the cashless policy which commenced this month. In a related development, two weeks after opening a special foreign exchange (FX) window for Small and Medium Enterprises (SMEs) to enable operators import eligible finished and semi-finished items, the CBN yesterday established a fresh widow for investors and exporters tagged: "Investors' & Exporters' FX Window". According to the CBN, international airlines ticket sales' remittances shall only be eligible to access the CBN FX window (SMIS-Retail and Wholesale; spot and forwards. The CBN, it added, shall also be a market participant at the window to promote liquidity and professional market conduct. As part of the operational requirements of the window, the CBN circular said the exchange rates of the transactions in the window shall be as agreed between authorised dealers and their counterparties.

Source: The North Africa Journal April 22, 2017 12:00 UTC