FOREX: CBN RELEASES ADDITIONAL $250M

Nigeria's apex bank, the Central Bank of Nigeria (CBN) on Wednesday released additional $250 million on 7 to 30-day forwards for agriculture, airline, petroleum products and raw materials.
The Bank also called for bids for wholesale spot for $100 million for Basic/Personal Travelling Allowance, medicals and tuition fees.

Acting Director, Corporate Communications at the Central Bank of Nigeria, Mr. Isaac Okorafor while confirming this in Abuja, disclosed that the Bank has also commenced heavy injections into the spot market in addition to the settlement of requests for wholesale spot bids for invisibles like school fees, medicals and personal travel allowance.

It can be recalled that earlier this week, the CBN had disbursed $20,000 each to the Bureau De Change (BDC) operators in two tranches of $10,000 each, which according to Acting Director, Corporate Communications, underscores the commitment of the Bank to ensure liquidity in the foreign exchange market.

Source News Express