Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995 🇳🇬

Nigeria

Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995

Published in Official Gazette supplement
Commenced on 16 January 1995
[This is the version of this document at 31 December 2002.]

An Act to establish an Autonomous Foreign Exchange Market and to provide for the monitoring and supervision of the transactions conducted in the market and for matters connected therewith.

Part I – Establishment of the Autonomous Foreign Exchange Market and dealings in the Market

1. Establishment of the Autonomous Foreign Exchange Market

(1)There is hereby established an Autonomous Foreign Exchange Market (in this Act referred to as "the Market") where transactions in foreign exchange shall be conducted in accordance with the provisions of this Act.

(2)Subject to this Act, the Central Bank of Nigeria may, with the approval of the Minister, issue, from time to time, guidelines to regulate the procedures for transactions in the Market and for such other matters as may be deemed appropriate for the e…

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