Central bank of Nigeria said on
Wednesday it offered $250 million in currency forwards, to be
settled within 30 days, to airlines, fuel importers and
agriculture businesses.
    It also offered $100 million on the spot market for foreign
travel, school and medical fees as part of efforts to boost
dollar liquidity and prop up the ailing naira currency.
    The central bank said forex purchase will be paid for
immediately in naira after the release of bid rates. The naira
closed on Wednesday at 306.10 per dollar on the official market
and 410 on the black market.
    The bank has intervened on the forward market in the last
few weeks in an attempt to meet demand but customers with an
immediate need for dollars have piled back into the black
market, causing the naira to begin to weaken in that segment.