Business

CBN releases fresh $250m for Agriculture, Airlines

Published

9 years ago

April 14, 2017

By ANDREW OJIEZEL

The Acting Director, Corporate Communications of Central Bank of Nigeria (CBN) Mr Isaac Okorafor said that the bank has released fresh 250 million dollars on 7 to 30 day forwards for agriculture, airline, petroleum products and raw materials.

Okorafor, who made this known in a statement stated that the bank has also called for bid for 100 million dollars wholesale spot for traveling allowances, medical and tuition fees.

According to him, 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 would 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.

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