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The Nigerian currency- naira has appreciated to N363.5 per dollar in response to measures introduced by the Central Bank of Nigeria (CBN) over the weekend to boost dollar supply in the country. Meanwhile, Governor of the CBN, Mr. Godwin Emefiele, on Monday commenced on-the-spot monitoring of Over-the-Counter (OTC) sales of foreign exchange (forex) by banks to customers in a bid to ensure compliance with the CBN directive that banks sell dollars to all travellers with valid documents across the counter.

Speaking to journalists during the visit, he said:

“The essence of this visit is to see whether the banks are doing what they were asked to do. “I must say that I am happy. The policy hasn’t gained ground. I would have loved to see a long queue of people wanting to buy Business Travel Allowance (BTA) from the bank. I seize this opportunity to tell all Nigerians that all the banks are stocked with foreign currency whether it is your bank or not, walk in and you will see a cubicle marked PTA/BTA or Bureau de Change. You can go in there and buy your dollar,’’ he explained.

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