2009-03-16 | TED-FEM-FPC-GEN-01-037-09

Conduct of Retail Dutch Auction System (RDAS) Session

The Central Bank of Nigeria (CBN) has announced that the daily Retail Dutch Auction System (RDAS) sessions will begin on March 18, 2009. Authorized dealers are required to submit their bids between 9:00 and 10:00 a.m. daily for this purpose. All other guidelines related to RDAS from the previous circular dated January 15, 2009 remain unchanged. This change is being implemented to meet growing legitimate foreign exchange demand in the market.

Nigeria

Central Bank of Nigeria

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