Friday, December 23, 2016

Video - CBN's special auction to clear backlog of dollar obligations

Nigeria's Central Bank will hold a special foreign exchange auction to clear a backlog of outstanding dollar demand for selected sectors. It has asked commercial lenders to submit the backlog for dollar demand from fuel importers, airlines, as well as manufacturing and agricultural firms. These sectors have seen severe foreign exchange shortages hamper, at best, but more often, cripple their operations.

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