The Central Bank of Nigeria (CBN) has announced the launch of the Electronic Foreign Exchange Matching System (EFEMS) to enhance transparency in the foreign exchange market, with a planned implementation date of December 1. This system will allow licensed brokers to conduct transactions in real-time. As the Nigerian currency has fallen by more than 60% in 2024, the CBN hopes to reduce speculation and improve its regulation. Brokers are called upon to adhere to the rules and prepare before the system goes live.Source: Africa News Agency
General Birame Diop Assumes Leadership as New ECOWAS Commission President
Abuja: The ECOWAS Commission has officially welcomed General Birame Diop of Senegal as its new President during a formal ceremony held at its headquarters in Abuja, Nigeria. The event marked the transition of leadership with the outgoing President, Dr…