The Central Bank of Nigeria (CBN) on
Thursday directed commercial lenders to pay for their dollar purchases
48 hours in advance in a move aimed at curbing foreign exchange demand,
traders said.
“We are now required to deposit the naira equivalent of our total forex
bids to the central bank 48 hours in advance before its intervention,” one dealer told Reuters.
bids to the central bank 48 hours in advance before its intervention,” one dealer told Reuters.
The central bank was not immediately available to comment.
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