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CENTRAL BANK OFFERS HUNDRED MILLION DOLLAR FOREX TO DEALERS

The Central Bank of Nigeria has offered a hundred million dollars to authorised dealers as its intervention to stabilize the foreign exchange market.

ISAAC OKORAFOR, the Acting Director of CBN’s Corporate Communications Department disclosed this in a statement on Thursday. 

Mr OKORAFOR, however, said that no intervention was made in the retail window in Thursday’s auction.

According to him, the apex bank continued its weekly sale of foreign exchange to the Bureau de Change segment to meet the needs of low-end users. 

The CBN spokesperson further said the bank observed that a good number of dealers were adhering to the forex guidelines and said the Central Bank would continue to monitor activities of authorised dealers to ensure that no outfit or individual circumvented laid down forex rules.

 

Mr OKORAFOR however urged all concerned to put the Nigerian economy first, adding that the CBN was determined to guarantee the international value of the naira.

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