Importers To Get Every Dollar Needed From CBN
The central bank of Nigeria has said it will pay to the last cent, every amount of dollar demanded by importers in Nigeria.
CBN told commercial banks on Thursday that it will sell dollars via a book-building process to make sure that companies that had asked for dollars in the past get it within the next two months.
However, it noted that only companies importing machinery, airline equipment and petroleum products will be considered.
The lucky companies would be required to pay the naira equivalent for their dollar bids on the spot market on Thursday.
CBN did not say how much dollars it would offer at the sale.
The naira was quoted at the unavailable 315 Naira on the interbank market on Thursday but on the black market, where it is available, it was quoted at 455 per dollar.