Chidi Samuel|| In line with its promise to ease the difficulties encountered by Nigerians in obtaining funds for Foreign Exchange transactions as contained in the revised forex regulation released yesterday, the Central Bank of Nigeria (CBN), Tuesday carried out wholesale interventions in the interbank FOREX market by releasing a total sum of $370,810,810.79 to 23 banks to meet the visible and invisible requests of customers.
A source at the CBN disclosed that the qualified bids for the United States dollars ranged from N315 to N360, adding that seven banks received full allotments of their respective bids valued at $37,500,000 each. Other banks received allotments ranging from $46, 512.50 to $15,578,081.51.
The new central bank directive is already having the desired effects as many commercial banks Tuesday assured customers who applied for PTA for various reasons that their request will be met before the end of the week. Many of the customers who spoke with Alabingo.com praised the Apex bank for the new policy shift.
On Monday, the CBN unveiled new policy actions to make forex readily available for personal and business travels, medicals and school fees.
As part of its new policy action, the CBN also directed all banks in the country to open forex retail outlets at major airports as soon as logistics permit them to do such.