CBN to offer $150 mln in currency forwards


LAGOS, March 14 (Naija247news) – Nigeria’s central bank said on Tuesday it will sell $150 million in currency forwards on the interbank market through commercial lenders.

The central bank, whiach has been intervening on the official currency market over the past two weeks, told lenders that Tuesday’s sale will be settled within 60 days.

The naira fell to 306 per dollar on Monday from the 305.50 level it has traded since last year after a central bank intervention on the spot market. The currency was quoted at 455 per dollar on the black market on Tuesday.


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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.


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