Dollar Sales Surge by CBN as Liquidity Issues Intensify.
CBN Sells Record $575m in May Amid Liquidity Shortfall The Central Bank of Nigeria sold $575 million in May, exceeding combined sales for March and April, to counter low foreign investment inflows.
2. Oil Firms to Resume Dollar Sales to Banks Foreign exchange market liquidity drops as CBN’s $575m sale in May surpasses $340m total from previous two months, aiming to boost naira stability and mop up excess liquidity.
3. CBN’s Dollar Sales Surge in May Amid FX Market Turbulence CBN sold $575 million in May to support the naira and manage liquidity, marking the highest monthly sales in 2024 as oil companies resume dollar sales to banks.
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