THE Group Managing Director/CEO of United Bank for Africa (UBA) Plc, Mr. Oliver Alawuba, has said that the launch of the Nigeria FX Code was not just the unveiling of a framework but it was a call to action for all stakeholders to uphold the principles of fairness, ethical behaviour, and professionalism.
He highlighted that the strength of any financial market lies in the integrity of its participants, and with the Nigeria FX Code, “We now have a unified platform to reinforce this commitment”.
Mr. Alawuba stated this on Tuesday in a goodwill message he delivered at the launch of the Nigerian Foreign Exchange (FX) Code by the Central Bank of Nigeria (CBN) in Abuja.
He described it as a remarkable event, and a milestone that demonstrates the collective resolve to build a foreign exchange market rooted in transparency, professionalism, and ethical conduct.
He commended the Central Bank of Nigeria (CBN) for its steadfast leadership and the impactful reforms it has championed in recent years.
“These initiatives have been pivotal in stabilizing the FX market, restoring investor confidence, and ensuring a more sustainable and resilient financial system.
“From policy innovations to strategic interventions, the CBN has proven itself a cornerstone of Nigeria’s economic stability.
“The introduction of the Nigeria FX Code is yet another bold and visionary step. This initiative not only complements other notable reforms of the CBN, but also sets a new benchmark for accountability and integrity in the FX market,” Mr. Alawuba stated.
He highlighted that by embedding global best practices and fostering a culture of trust and equity, the Code will enhance market efficiency, attract greater participation, and elevate Nigeria’s standing in the global financial landscape.
Mr. Alawuba further said: “As we witness the ceremonial signing of this Code today, let it engender a re-awakening of our collective responsibility to safeguarding the credibility of our FX market”.
He pledged to work together with other stakeholders to ensure the market becomes a beacon of excellence, one that inspires confidence both locally and globally.
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