CBN Releases Additional $250m For Agriculture, Airlines

The Central Bank of Nigeria (CBN) on Wednesday released another 250 million dollars on 7 to 30 day forwards for agriculture, airline, petroleum products and raw materials.

 

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The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor,  said in a statement that the bank also called for bid for 100 million dollars wholesale spot for traveling allowances, medical and tuition fees.

He said that the apex bank had 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 will be recalled that earlier this week, the apex Bank had disbursed 20,000 dollars each to the Bureau De Change (BDC) operators in two tranches of 10,000 dollars, to ensure liquidity in the foreign exchange market.

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On Monday, the bank auctioned 100 million dollars to be settled between one week and 30 days.

It also auctioned 418 million dollars at N310 to a dollar to airlines, agricultural firms, petroleum and raw material importers in addition to the 350 million dollars it sold last week. (NAN)

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