Buoyed by the impact of its interventions and stability in the foreign exchange market as the US dollar exchange at N380, the Central Bank of Nigeria (CBN) on Thursday, April 27, 2017 offered the sum of $100 million to authorized dealers to meet the requests of wholesale customers at the forex auction in the interbank wholesale window.
The Acting Director, Corporate Communications Department at the CBN, Isaac Okorafor, again disclosed this, adding that no intervention was made in the retail window in yesterday’s auction.
He, however, disclosed that the Bank continued its weekly sale of forex to the Bureau de Change (BDC) segment to meet the needs of low-end users.
Furthermore, he said the CBN had observed that quite a good number of dealers were adhering to the forex guidelines. Nevertheless, he said the CBN will continue to monitor the activities of authorized dealers to ensure that no outfit or individual circumvents the laid down forex rules.
While urging all concerned to put the Nigerian economy first, he reiterated that the CBN was determined to guarantee the international value of the naira.
Meanwhile, The Director-General, National Youth Service Corps (NYSC), Brigadier-General Suleiman Kazaure, said on Thursday that arrangements were being made to enable corps members interested in farming to access soft loans for the 2017 farming season.
Inspecting 145 hectares NYSC farmland in Bauchi, Kazaure explained that the aim was to train corps members in modern farming to enable them to become self-reliant after their service year.
According to him, talks were ongoing between NYSC and various banks such as Bank of Industry and Heritage bank in that direction.
Earlier, the Director, Venture unit of NYSC, Mr Steven Alabi, said that arrangement had been made for the accommodation of corps members to be mobilised to the farming settlement.
He said that a10 -bedroom accommodation with a borehole and 100KVA generator had been provided in the place.
Alabi said NYSC officials with expertise in agriculture had been posted to oversee the farmland and its activities.
He said that cowpeas and maize would be cultivated on the land, adding that most of the work would be done by corps members, in addition to engaging people from outside.
“NYSC has provided modern farm equipment and corps members from relevant fields will be deployed to the farm settlement,” he said.
Alabi said that the scheme would also embark on farming in four states, adding that the 2017 exercise would scale up farming activities across the country.
