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Central Bank allows oil companies to sell foreign exchange

    ABIDJAN

    Oil companies are now free to sell their foreign exchange on the open market, Radio Nigeria reported on Monday. In a circular to oil companies and banks in Lagos, the Central Bank of Nigeria (CBN) said that it had reviewed the regulation that required the firms to sell foreign exchange only to the CBN. However, the CBN will continue to supervise the sales.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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