The Central Bank of Nigeria has introduced a five year Naira contract for the first time. A move the bank says is aimed at attracting foreign inflows, prevent weakening of the naira and shore up the country’s external reserves. The Naira contract will trade on the FMDQ OTC Securities Exchange. Tumi Sekoni, Managing Director of the FMDQ Securities Exchange joins CNBC Africa to discuss this.
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The Central Bank of Nigeria has introduced a five year Naira contract for the first time. A move the bank says is aimed at attracting foreign inflows, prevent weakening of the naira and shore up the country’s external reserves. The Naira contract will trade on the FMDQ OTC Securities Exchange. Tumi Sekoni, Managing Director of the FMDQ Securities Exchange joins CNBC Africa to discuss this.
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