CBN Releases Additional $250m For Forwards Market

CBN Gov: Emefiele
Gov: Emefiele

The Central Bank of Nigeria () on Wednesday, April 12, 2017, released additional $250 million on 7 to 30-day forwards agriculture, airline, petroleum products and raw materials.

also bids wholesale spot $100 million for Basic/ Travelling Allowance, medicals and tuition fees.

Confirming in on Wednesday, the Acting Director, Corporate Communications at the Central Bank of Nigeria, Mr. Isaac Okorafor, disclosed that the Bank also commenced heavy injections into the spot market in addition to the settlement of requests wholesale spot bids invisibles like fees, medicals and travel allowance.

It be recalled that earlier week, the apex Bank had disbursed $20,000 each to the Bureau De Change (BDC) in two tranches of $10,000 each, which according to Mr. Okorafor underscores the commitment of the Bank liquidity in the foreign exchange market.