FULL LIST: CBN Sells Dollars To 26 Banks, Disqualifies UBA, Wema, Stanbic, Others - AZNews

FULL LIST: CBN Sells Dollars To 26 Banks, Disqualifies UBA, Wema, Stanbic, Others

Posted by AZNews August 11, 2024

The Central Bank of Nigeria (CBN) has confirmed the sale of foreign exchange (FX) to 26 banks worth $876.26million at N1,495/$. While banks like the UBA, Stanbic, and Wema saw their bids rejected. The development was revealed in a statement signed by the Director of the Financial Markets Department, CBN, Omolara Omotunde Duke, dated August 7.....KINDLY READ THE FULL STORY HERE▶

Exposed!! Medical Research Discover How Nigeria Men Can Now Naturally Last Longer, Better And Bigger In Bed Even If They Are Hypertensive And Diabetic!!

The auction, the apex bank disclosed, was a means to reduce demand pressure in the Forex market, as well as promote price discovery.

CBN Sells $876m to Banks at ₦1,495/Dollar as Parallel Market Trades at ₦1,574

Neusroom had earlier reported that the CBN received bids from 32 banks in the sale carried out via the Retail Dutch Auction System (rDAS). Of the 32 bids from Banks, 6 banks were disqualified, while 26′ bids were accepted.

The CBN said that the reason for disqualifying the 6 banks was because, four of the banks missed the deadline, while two did not provide bids in their submitted templates.

FULL List of successful and Unsuccessful bids from the banks:

Banks That Qualified:

S/N BANK SUCCESSFUL BIDS ($)
1. Access       79,092,862.79
2. Citi       12,001,875.89
3. Coronation        4,474,753.38
4. Ecobank        5,320,365.25
5. FBN       228,994,949.57
6. FBN Quest        5,089,359.92
7 Fidelity        43,616,742.68
8. FSDH        1,999,399.52
9. Globus       11,070,395.30
10. Greenwich             17,21.40
11. GTB         29,543,429.06
12. Jaiz         16,708,748.35
13. Keystone           4,635,899
14. Lotus           4,024,818.31
15. Nova            2,098,539.51
16. Parallex              548,052.17
17. Polaris             10,440,523.75
18. Providus             11,453,580.97
19. Signature                 551,753
20. Stanchart            28,429,525.73
21. Sterling            14,397,359.41
22. Taj             19,107,550.88
23. Titan                790.78
24. Union             13,268,519.66
25. Unity                616,138.33
26. Zenith              267,862,855.69
Total              815,362,006.30

Banks Disqualified:

S/N BANK AMOUNT  REMARKS
1 UBA     13,213,785.91 Late submission
2 FCMB 178,652,316.84 Late submission
3 Stanbic 57,857,408.12 Late submission
4 Wema 21,940,547.84 Late submission
5 Suntrust 7,379,787.50 No bid rates
6 Rand 0 No bid received
Total 279,043,846.21

Exposed!! Medical Research Discover How Nigeria Men Can Now Naturally Last Longer, Better And Bigger In Bed Even If They Are Hypertensive And Diabetic!!