Central Bank Of Nigeria (CBN) Last week, sold a total of $130.755.294.59 to 14 commercial banks, 4 merchant banks and the Bank of Industry(BIO), indicating a reduction in Foreign Exchange(FOREX) allocation, by $5.283.163.58.
Forex returns publication, shows a decline in the amount of allocation and number of financial entities that are allotted.
United Bank of Africa (UBA), is for the first time, leading the chart of commercial banks by getting $18.500.803.50 allocated, Stanbic IBTC took second place with $17.859.696.51, First Bank Plc.(FBN) coming third with $14.215.272.40, Zenith Bank Plc. maintains the fourth position with $13.236.651.70.Diamond Bank is placed fifth with $11.489.227, while Standard Chartered Bank with $10.703.263 allocation remains at the sixth position.
The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, said that the figure is expected to continue to fall, due to the present fuel price crises in the country.
“We are concerned, we are monitoring the situation, we are talking to investors – both domestic and foreign – we have ramped up our efforts in terms of government relations to report what we are seeing and to look for new ways and solutions that would continue to make our market attractive to all investors,” he said.
