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CBN’S RETAIL DUTCH AUCTION
The Nigerian official foreign exchange (FX) market experienced a marked decline in turnover during the first two weeks of August, coinciding with the recent Retail Dutch Auction conducted by the Central Bank of Nigeria (CBN).
The Central Bank of Nigeria (CBN) conducted a Retail Dutch Auction on August 6, 2024, where nine companies purchased a combined total of $25.76 million to meet their loan repayment obligations.
Dangote Group’s subsidiaries have emerged as major recipients in the latest Retail Dutch Auction conducted by the Central Bank of Nigeria (CBN), purchasing at least $105.33 million in successful foreign exchange (FX) bids.