The Central Bank of Nigeria (CBN) has intervened in the retail auction window for forex sales to the airlines, manufacturing, agricultural and petroleum sectors.
Confirming the CBN’s position today, Tuesday, the Acting Director of Corporate Communications, Isaac Okorafor said that banks have started submitting requests made by their customers to the CBN.
He announced also that authorized foreign exchange dealers have fully subscribed to the $150 million offered by the apex bank at the forex auction in the interbank wholesale window.
He added that the CBN had equally fulfilled its commitment to sell $10,000 to Bureaux de Change (BDCs) in line with its new sale policy.
It is on record that the CBN, since February 21, has made over ten offers in the interbank wholesale market, ranging from $100 million to $500 million per auction. Dealers have fully subscribed to the last three auctions that ranged from $100 million to $150 million. [myad]
