CBN Changes Forex Sales’ Date

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The Central Bank of Nigeria (CBN), will begin the sale of foreign exchange on Wednesday, March 23, as against the earlier advertised date of Tuesday, March 16.

“The postponement is necessitated by the introduction of Reserve Averaging, which took effect on Wednesday, March 9 and being new to the depositor money banks, they require some time to fully digest it,” read a press release from the bank.

The head of corporate communications of the bank, M.M. Abdullahi, who signed the press release, advised stakeholders to be guided accordingly.

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