Home | About Us | FAQs | RSS | Contact Us | Sitemap | Careers | Educational    

International Operations

FX Structure | FX Mgt Before Now. | FX Mkt | Debt Conversion | Exchange Rate Policy | Movement in Reserves | International Payments | Reserve Management

Debt Conversion

The evolution of the foreign exchange market in Nigeria up to its present state was influenced by a number of factors such as the changing pattern of international trade, institutional changes in the economy and structural shifts in production. Before the establishment of the Central Bank of Nigeria (CBN) in 1958 and the enactment of the Exchange Control Act of 1962, foreign exchange was earned by the private sector and held in balances abroad by commercial banks which acted as agents for local exporters. During this period, agricultural exports contributed the bulk of foreign exchange receipts. The fact that the Nigerian pound was tied to the British pound sterling at par, with easy co

 

Facts : 1/27/1959
MANPOWER DEVELOPMENT:Mr. Graham William Keep was appointed the first and the only Expatriate Deputy Governor of Central Bank of Nigeria, from January 27, 1959 to January 26, 1962.
See All: Facts | Events