Current Time: August 22, 2017 00:41:25am Last Update: August 21, 2017 18:03:36pm
Home|Forum|Conferences|Concepts|Research|TrueColour|Business Developemnt         
iWitness | Register | Login | Subscribe         

Business > Money Market
Nigeria: CBN lifts forex supply with $180m
Addthis Facebook Twitter LinkedIn Gmail
By Staff Reporter
March 20, 2017 15:35:06pm GMT      |      Views: 484
Naira and Dollar in forex trading

WorldStage Newsonline--  The Central Bank of Nigeria (CBN) on Monday, March 20, 2017 offered a total of $180 million to meet bids for wholesale auction and requests for invisibles such as medicals, school fees and personal travel allowances valued at $80 million, through the inter-bank window.

Confirming the figures, the Acting Director, Corporate Communications Department, CBN, Isaac Okorafor, said the wholesale requests will be settled on Tuesday, March 21, 2017.

The development is expected to further strengthen the Naira in the foreign exchange market in the days to come.

While disclosing that the apex bank had so far met all the legitimate demands from genuine customers, Okorafor reiterated that the CBN would ensure sustainable forex liquidity and transparency in the process to enable as many customers as possible get access to the foreign exchange they genuinely demand.

He advised eligible individuals with genuine foreign currency needs to freely approach their banks and authorised dealers with their request, stressing that the CBN had made adequate provisions of foreign currency for all such legitimate purposes.

Mr. Okorafor further advised legitimate customers to approach the CBN with their complaints should they be unfairly denied access.

Addthis Facebook Twitter LinkedIn Gmail







Share |




ADVERTISEMENT



Related News
- August 21, 2017 09:46:39am GMT

- August 17, 2017 13:58:12pm GMT

- August 15, 2017 14:52:25pm GMT

- August 10, 2017 13:46:08pm GMT

- August 9, 2017 09:30:24am GMT