Central Bank of Nigeria (CBN) has sold foreign exchange (FX) to banks worth $876.26 million at ₦1,495 per dollar.
This is even as it sold to Twenty Six banks and disqualified six.
This is contained in a statement signed by Omolara Omotunde Duke, CBN’s director of the financial markets department, the apex bank said the auction aimed at reducing demand pressure in the FX market and promote price discovery.
The CBN said the transaction was conducted through a retail Dutch auction system (rDAS).
As stated by Central Bank, while bids valued at $876.26 million from 26 banks qualified, bids from six banks were disqualified.
The CBN said four banks missed the deadline and two did not provide bids in their submitted templates.
Below is the full list of successful and unsuccessful bids.
SUCCESSFUL BIDS
- Access 79,092,862.79
- Citi 12,001,875.89
- Coronation 4,474,753.38
- Ecobank 5,320,365.25
- FBN 228,994,949.57
- FBN Quest 5,089,359.92
