The Central Bank of Nigeria, CBN, has sold $815.36 million dollars to end users through 26 banks in its inaugural Retail Dutch Auction System at 1, 495 naira per dollar rate.
The CBN disclosed this in a statement containing the summary of the Retail Dutch Auction and signed by director of the Financial Markets Department of the CBN, Omolara Duke.
The bank said it received a total of $1.191 trillion dollars’ worth of bids.
While $815.36 million dollars’ worth of bids scaled through, $375.7m valued bids were disqualified over late submission.
