ABUJA Feb 20 Nigeria's central bank said on
Monday it would supply dollars immediately to retail clients
through commercial lenders who will resell them at a margin of
not more than 20 percent above the interbank rate of 305 naira
The central bank plans to boost dollar sales for school fee
payments and travel abroad as part of efforts to reduce a 40
percent premium paid for dollar on the black market, where
retail customers buy their hard currency.
The bank said it would activate the market's order-book as
soon as possible and accelerate currency matching of the trading
platform to ensure transparency.
"Given our plan to meet all unfilled orders, and while
provision of FX to the manufacturing sector would remain the
central bank's strong priority, we will no longer impose
allocation/utilization rules on commercial banks," the bank said
in a statement.
(Reporting by Camillus Eboh; Writing by Chijioke Ohuocha;
editing by John Stonestreet)