By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN Approves Dollar Sale to More Bureau De Change Operators
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

CBN Approves Dollar Sale to More Bureau De Change Operators

Farouk Mohammed
By Farouk Mohammed
Published: March 16, 2017
Share
1 Min Read
SHARE

The Central Bank of Nigeria (CBN) on Thursday cleared more retail currency bureaux to take part in a weekly dollar sale to boost liquidity and support the naira which is weak on the black market.

Aminu Gwadabe, president of Nigeria’s bureau de change operators, said the central bank cleared 3,124 bureaux for this week’s $25 million auction to be sold by international money transfer firm Travelex at 381 naira per dollar.

The bank approved 3,114 bureaux last week, Gwadabe said.

The CBN, under pressure from the government to narrow the gap between the official and black market rates and support the weakening naira, has stepped up dollar sales on the official interbank market in recent weeks.

- Advertisement -

On Thursday the bank also announced an offer for $100 million in currency forwards.

The naira last traded at 307 on the official market at 1200 GMT, while it was quoted at 453 on the black market.

(REUTERS)

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Aminu GwadabeBureau de ChangeCBNGMTNigeriaTravelex
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Saraki Congratulates Newly-elected CAF President, Ahmad Ahmad
Next Article MIXTAPE: DJ Enimoney – ‘Made In Bariga’

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 15 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Nationwide SIM Services Disruption Looms as NIMC Transitions to New Identity Verification Platform
News
Aminu Dantata Buried in Madinah as Prayers Echo from Nigeria to Saudi Arabia
News
Atiku, PDP Leaders Hold Strategic Meeting Ahead of Opposition Coalition Talks
Politics
Styrofoam
Lagos Begins Enforcement of Ban on Styrofoam, Single-Use Plastics Despite Industry Pushback
News
Federation Cup Glory: Governor AbdulRahman AbdulRazaq Rewards Kwara United Players with N5 Million and Land
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Politics

Igbo Youths Tie 2027 Support to Kanu’s Release Following Kenyan Court’s Landmark Ruling

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 1, 2025
Tech

Ericsson Unveils New Regional Headquarters in Riyadh to Boost Digital Innovation

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 1, 2025
Tech

MTN Nigeria Unveils Cloud Data Centre to Boost Tech Innovation, Cut FX Exposure

Muhammad A. Aliyu
Muhammad A. Aliyu
July 1, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?