The Central Bank of Nigeria (CBN) continued boosting the country’s foreign exchange liquidity by pumping in $240 million more, part of which $150 million will go to dealers in the interbank wholesale window.
Those who stand to gain from the sales which was initiated on Monday through the interbank wholesale auction window include manufacturers, importers of agro-machineries, plants and critical raw materials.
Acting Director, Corporate Communications, CBN, Isaac Okorafor said in a statement that the bank also released $ 90 million to meet requests for invisibles such as travel allowances, medical and school fees.
He said that henceforth, the apex Bank would sell 10,000 dollars only to low-end Forex dealers once a week rather than the bi-weekly sales it announced earlier.
He said that the CBN had adjusted BDC sale days to Tuesdays only, to reduce logistic difficulties.
According to Okorafor, the CBN has also directed all banks to pay cash over the counter to desiring foreign exchange customers to further ease the access of customers.
He further urged customers to report any un-cooperating bank to the CBN through available platforms.
The CBN, in the recent months, has made offers and releases of over 2 billion dollars to the inter-bank foreign exchange market in its bid to sustain Forex supply to different categories of users.
Last week, the Naira began to weaken against the dollar, which was attributed to alleged hoarding of the dollars by commercial banks, in spite of receiving over 200 million dollars.
The Naira on Friday closed at N394 to a dollar.
However, on Monday, it showed further signs of recovery, when it sold at N388 to a dollar in Abuja.
