By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: 15 Banks Named As Foreign Exchange Primary Dealers [See List]
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessNews

15 Banks Named As Foreign Exchange Primary Dealers [See List]

Farouk Mohammed
By Farouk Mohammed
Published: June 21, 2016
Share
1 Min Read
SHARE

Naira-Dollar-1-1-1-1-1-1-2-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1-1

The central bank of Nigeria (CBN) has jettisoned it’s original plan of dealing with ten FX primary dealers and has appointed 15 of its commercial lenders as primary forex dealers, as the naira tumbled 30 percent after it lifted its peg on the currency, traders said on Monday.

Dealers includes:

Stanbic IBTC Bank,

- Advertisement -

Standard Chartered Bank,

Citibank,

Zenith Bank,

Access Bank

- Advertisement -

UBA

Sterling Bank

FCMB

Wema Bank

GTBank

Firstbank

SkyeBank

EcoBank

Diamond Bank

Fidelity Bank

It will be recalled last week Wednesday that the Apex bank rolled out guidelines for primary dealers – banks that will play directly in the market – with conditions that they must have at least N200 billion in shareholders’ funds, N400 billion worth of forex assets and 40% liquidity ratio, although those who meet two of the requirements will qualify.

But in a revised set of guidelines last Friday, the CBN hrown the door open to other banks to participate even if they do not meet the criteria for the choice of 10.

 

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:BanksForeign Exchange Primary Dealers
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Meet Okoro Beauty (Beautifulbeauty) Our Forumspotz Icon Of The Week 10
Next Article EFCC Arrests 7 Health Officials For Diverting $4m HIV Fund

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 5 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit
News
NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”
News
Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured
News
- Advertisement -
Ad imageAd image

You May Also Like

Sport

Victor Osimhen Returns to Nigeria as Al Hilal Transfer Hangs in Balance Ahead of FIFA Club World Cup

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Mike Ejeagha
News

Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95

Muhammad A. Aliyu
Muhammad A. Aliyu
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?