CBN Reacts To Senate’s Claims That It Is Selling Dollars At N200

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The Central Bank of Nigeria, CBN on Friday reacted to claims by the Senate that it is selling dollars to some businesses at an unofficial rate of N200.

On Wednesday, the Senate in a resolution asked the Federal Government to direct the CBN to supply dollars at a subsidised exchange rate of N200 to intending pilgrims to either to Saudi Arabia or Israel.

Senate Under Fire For Directing CBN To Give Dollars At N200 For Pilgrimage

According to PREMIUM TIMES, the CBN denied the allegations that it has been allocating FOREX to any business at N200.

“It is not true,” CBN spokesperson, Isaac Okorafor, said on Friday.

“We (CBN) are NOT selling FOREX to anyone at N200 to the dollar. The lowest rate in the entire market is the inter-bank rate, which ranges between N305 to N315,” he explained.

The post CBN Reacts To Senate’s Claims That It Is Selling Dollars At N200 appeared first on LATEST NIGERIAN NEWS BREAKING HEADLINES NEWSPAPERS.

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