Wednesday, July 2, 2025
Home Business CBN SELLS ANOTHER US$148 MILLION TO AUTHORISED DEALERS

CBN SELLS ANOTHER US$148 MILLION TO AUTHORISED DEALERS

The Central Bank of Nigeria (CBN) says it has   sold a cumulative amount of US$148,000,000.00 (One Hundred and Forty-Eight Million United States Dollars) to Authorised Dealers in the Nigerian Foreign Exchange Market (NAFEM) to provide liquidity to  the  Fx market.
The transactions were conducted on July 22 and 23, 2024.
Revealing this in Abuja on Friday, July 26, 2024, the Acting Director of the Corporate Communications Department,  Hakama Sidi Ali, underscored the transparency of the CBN’s operations. She disclosed that the CBN sold foreign exchange (FX) to 29 Authorized Dealer banks at exchange rates between N1470.00/US$1 and   N1510.00/US$1.
Sidi Alli also stated that the value dates for all transactions conducted on July 22 and 23, 2024, were T+0  and T+1 for sales at the later part of each day .
It will be recalled that the CBN also sold a total of US$106,500,000.00 (One Hundred and Six Million and Five Hundred Thousand US Dollars Only) to 29 (Twenty-Nine) Authorized Dealer banks at rates between  N1,498.00/US$1 and N1,530.00/US$1 on Thursday, July 18, and Friday, July 19, 2024.
She reiterated the CBN Governor’s commitment to stabilizing the foreign exchange market. The Governor has assured that the Bank will continue to address the supply gap to ensure the market stability.
RELATED ARTICLES

NAICOM HANDS OVER NEW LICENSES TO SANLAMALLIANZ LIFE AND GENERAL INSURANCE.

  The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd. in a brief ceremony held in...

KADUNA STATE GOVERNMENT AND SMEDAN SIGN ₦1 BILLION MOU TO BOOST MSME DEVELOPMENT.

  In a landmark move to drive inclusive economic growth and revitalization of the entrepreneurial ecosystem in Kaduna State, the Kaduna State Government has signed...

NIGERIA, SAUDI ARABIA CUSTOMS SIGN HISTORIC COOPERATION AGREEMENT AT WCO COUNCIL SESSION IN BRUSSELS.

In a major diplomatic stride in alignment with Customs-to-Customs cooperation, the Nigeria Customs Service (NCS) and the Zakat, Tax and Customs Authority of the...

Most Popular

NAICOM HANDS OVER NEW LICENSES TO SANLAMALLIANZ LIFE AND GENERAL INSURANCE.

  The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd. in a brief ceremony held in...

KADUNA STATE GOVERNMENT AND SMEDAN SIGN ₦1 BILLION MOU TO BOOST MSME DEVELOPMENT.

  In a landmark move to drive inclusive economic growth and revitalization of the entrepreneurial ecosystem in Kaduna State, the Kaduna State Government has signed...

NIGERIA, SAUDI ARABIA CUSTOMS SIGN HISTORIC COOPERATION AGREEMENT AT WCO COUNCIL SESSION IN BRUSSELS.

In a major diplomatic stride in alignment with Customs-to-Customs cooperation, the Nigeria Customs Service (NCS) and the Zakat, Tax and Customs Authority of the...

NNPCL ALLEGES COORDINATED SABOTAGE CAMPAIGN AGAINST NNPC LIMITED’S LEADERSHIP.

  The Nigerian National Petroleum Company Limited (NNPC Ltd.) has uncovered an emerging coordinated sabotage campaign being waged by a syndicate of known and faceless...

Recent Comments