Regulatory Alerts2011-02-14 | FMD/FED/CIR/GEN/01/012/11FOREIGN ECXHANGE MARKET (WDAS) AUCTION NI.012/2011
The Central Bank of Nigeria (CBN) announces an offer of USD200 million for sale at the foreign exchange auction on Monday, February 14th, 2011. Authorized dealers are invited to submit their bid requests through Reuters Dealing 3000 XTRA to CBN Abuja between 9:00 AM and 10:30 AM. Dealers must ensure that their current accounts with the CBN are adequately funded at the time of disbursement, otherwise their bids will be disqualified.
CENTRAL BANK OF NIGERIA Corporate Head Office, Central Business District, P.M.B. 0187, Garki, Abuja - F.C.T.
Website: www.cenbank.or Email: info@cenbank.org 09 462 36 700 Tel: 09 462 36 706 Fax: Our Ref: FMD/FED/CIR/GEN/01/012/11 Our ref: TO ALL AUTHORISED DEALERS February 14, 2011 FOREIGN EXCHANGE MARKET (WDAS) AUCTION NO. 012/2011 FURTHER TO OUR CIRCULAR REF. FMD/FED/CIR/GEN/01/082/10 OF DECEMBER 29, 2010, THE CBN HEREBY INTERVENES WITH AN OFFER OF USD200.00 MILLION (TWO HUNDRED MILLION UNITED STATES DOLLARS) FOR SALE AT THE FOREIGN EXCHANGE AUCTION OF MONDAY, FEBRUARY 14, 2011.
AUTHORISED DEALERS ARE THEREFORE INVITED TO SUBMIT THEIR BID REQUESTS FOR WDAS THROUGH REUTERS DEALING 3000 XTRA TO THE CBN ABUJA AT THE ADDRESS STIPULATED IN THE CIRCULAR UNDER REFERENCE BETWEEN 9.00 A.M AND 10.30 A.M. THEY ARE ALSO REMINDED THAT THEIR CURRENT ACCOUNTS with the cbn must be adequately funded at the time of DISBURSEMENT, FAILING WHICH THE BIDS WILL BE DISQUALIFIED.
OR: Aq. DIREC FINANCIAL MARKETS DEPARTMENT