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CBN Offers $100 Million in Wholesale Forwards



The Central Bank of Nigeria (CBN) on Thursday,offered the sum of $100 million to authorized dealers to meet the requests of wholesale customers at the foreign exchange auction in the interbank wholesale window.

The apex bank is strengthened by the positive outcomes of its interventions in the foreign exchange market and the stability so far achieved as the US dollar exchange at N380.

The CBN Acting Director, Corporate Communications Department, Isaac Okorafor, explained that no intervention was made in the retail window in yesterday’s auction. He said that the Bank continued its weekly sale of forex to the Bureau de Change (BDC) segment to meet the needs of low-end users.

Okorafor said the CBN had observed that quite a good number of dealers were adhering to the forex guidelines, assuring that the CBN would continue to monitor the activities of authorized dealers to ensure that no outfit or individual circumvents the laid down forex rules.

He urged all stakeholders in the finance sector to put the Nigerian economy first and assured that the CBN was determined to guarantee the international value of the naira.

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