Home Business CBN disburses $222.4m for BTA, school fees
CBN disburses $222.4m for BTA, school fees
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CBN disburses $222.4m for BTA, school fees

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The Central Bank of Nigeria says it sold 221 million dollars to 16 banks through the inter-bank foreign exchange market.

The apex bank disclosed this in its Sales Report on the second wholesale intervention.

It said the move was to enable commercial banks meet demand for Basic Transport Allowances, school fees and medicals by bank customers.

The report said 10 banks received 163 million dollars at a qualified bid for the US dollars, ranging from N330 to N360 per dollar on 30-days teneeour.

The CBN further said it had injected 370.9 million dollars into the inter-bank market through forward sales.

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