Regulatory Alerts2024-08-09 | August 06,2024The Result of the Retail Foreign Exchange (FX) Sale to End Users through Retail Dutch Auction undertaken by the Central Bank of Nigeria (CBN), on Tuesday, August 06, 2024 (CONT.)
The Central Bank of Nigeria (CBN) conducted a retail foreign exchange (FX) auction on August 6, 2024, selling $815 million to 26 banks at a cut-off bid of N1495.00/US$. The auction aimed to improve FX supply and promote price discovery, with bids submitted between 9:00 a.m. and 3:00 p.m. Six banks were disqualified for late submissions or non-compliance with the bid template.