L
LequteMan
Guest
The Central Bank of Nigeria in a bid to reduce the pressure on the Naira has stopped the sale of dollars to some categories of importers at its twice-weekly regulated foreign exchange market in order to save the naira from falling.
The move is meant to also reduce perceived dollarisation of the economy, according to industry analysts, Punch reports.
In a circular released on Thursday, and signed by the Director, Trade and Exchange Department, Mr. O.I Gbadamosi, the central bank specifically said it would no longer sell dollars to importers of electronics, finished products, information technology equipment, generators, telecommunication equipment and invisible transactions at its Retail Dutch Auction System forex market.
According to the directive, the importation of the listed items will now be funded at the interbank forex market only.
#Nigeria #Dollar #Naira #CBN
The move is meant to also reduce perceived dollarisation of the economy, according to industry analysts, Punch reports.
In a circular released on Thursday, and signed by the Director, Trade and Exchange Department, Mr. O.I Gbadamosi, the central bank specifically said it would no longer sell dollars to importers of electronics, finished products, information technology equipment, generators, telecommunication equipment and invisible transactions at its Retail Dutch Auction System forex market.
According to the directive, the importation of the listed items will now be funded at the interbank forex market only.
#Nigeria #Dollar #Naira #CBN