CBN to offer $100 mln in forwards -traders

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LAGOS, March 30 (Naija247news) – Nigeria’s central bank will offer $100 million in currency forwards on Thursday to be settled within 60 days, traders said, citing a notice from the bank.

The bank has been selling dollars on the official market to try to narrow the spread with the black market dollar/naira rate.

The local currency weakened on the black market on Thursday to 383 per dollar from 380 at its previous session. It was quoted at 305.90 on the official window after the central bank intervened with $1.5 million on the spot market.

 

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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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