By Ossom Raphael
The Central Bank of Nigeria (CBN) says it will from Monday, April 3, 2017 commence twice weekly Forex sales in licensed Bureau De Change (BDCs) in the country.
This is in continuation of the Apex Bank determination to sustain liquidity in the foreign exchange market.
According to a statement signed by the Bank’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, Licensed BDC operators are required to fund their accounts with the CBN on Mondays and Wednesdays, while they receive their purchases on Tuesdays and Thursdays respectively
The statement further said the weekly sales amount has been increased to $10, 000 ($5000 per bid).
Meanwhile, the CBN on Thursday, March 30, 2017, offered the total sum of $100 million to authorized dealers to service forwards request by wholesale customers in the interbank market.