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Nigeria’s interbank Foreign Exchange market on Monday cleared the $4 billion FX backlog which had been a major concern.
It was also learnt that the CBN intervened in the market with some $500 million, fulfilling its assurances to bring liquidity in the new regime which commenced yesterday as and when due.
Meanwhile BusinessDay learnt that Zenith Bank, Guaranty Trust Bank, Access Bank, UBA, Union Bank, Fidelity Bank, Skye Bank, Diamond Bank are some of the 15 banks that bided on Monday, having met the stipulated minimum requirements as Foreign Exchange Primary Dealers.
The other banks according to sources include, First Bank, Unity Bank, Eco Bank, Citybank, Standard Chartered Bank and Standard IBTC bank.
Onyinye NWACHUKWU
