The Central Bank of Nigeria (CBN) has provided a total of $148 million to authorized dealers in the Nigerian Foreign Exchange Market (NFEM) to ensure there is enough foreign currency available. These transactions took place on July 22 and 23, 2024.
On Friday, the Acting Director of the Corporate Communications Department, Hakama Ali, made this announcement in Abuja, highlighting the CBN’s dedication to clear and open operations. Ali shared that the CBN sold foreign currency to 29 authorised dealer banks at rates ranging from ₦1,470.00 to ₦1,510.00 per dollar.
She also mentioned that for all transactions done on July 22 and 23, 2024, the value dates were T+0 for same-day transactions and T+1 for next-day transactions. Additionally, on July 18 and 19, 2024, the CBN had sold $106.5 million to 29 authorized dealer banks at rates between ₦1,498.00 and ₦1,530.00 per dollar.
Ali emphasized the CBN governor’s pledge to maintain a stable foreign exchange market. The governor also promised to keep addressing the supply gap to ensure the market remains stable.
