BREAKING: CBN sells dollars to BDCs at N1,101/$  

The Central Bank of Nigeria (CBN) has taken a more aggressive move to boost the value of the Naira against the dollar. On Monday, the apex bank said it is set to sell $10,000 to each BDC operator at the rate of N1,101 according to a report by Nation Newspaper.

The CBN also directed operators to sell at a spread not more than 1.5 per cent above the CBN rate.

Details shortly…