The Central Bank of Nigeria (CBN) has denied allegations that it has launched fresh policy operations in the foreign exchange market.
The apex bank labeled the news as “old press release” in a statement posted on its official Twitter account on Thursday.
The CBN stated that the aforementioned report, which has since gone viral on social media, was published on February 20, 2017, not as recently as claimed.
“We would like to bring to your attention that the attached images currently circulating on social media are from an old Press Release dated 20th February 2017 and should be disregarded,” the bank said.
Meanwhile, the CBN created a foreign exchange price verification system on Thursday to provide importers access to FX.
On Thursday night, the bank announced this in a statement from its Trade and Exchange Department.
According to the apex bank, a price verification report from the platform is now required for all Form M requests.
The Central Bank says the pricing verification platform will go live on August 31, 2023.
The statement read, “Following the successful conduct of the pilot run and various trainings held with all the banks, the Central Bank of Nigeria hereby announces the Go- Live of the Price Verification System (PVS).
“All applications for Forms M shall be accompanied by a valid price verification report generated from the price verification portal.
“For the avoidance of doubt, by this circular, the price verification report has become a mandatory trade document precedent to the completion of a Form M.”
