CENTRAL BANK OF NIGERIA INCREASES THE AMOUNT OF DOLLAR SOLD TO BUREAU DE CHANGE OPERATORS

The Central Bank of Nigeria has increased the amount sold to bureau de change operators in the weekly auctions from $15,000 dollars to $30,000 dollars in a bid to boost liquidity following declining foreign investment due to plunging oil prices.
The naira has remained under pressure as the price of oil, Nigeria's main export continues to slide.
This is a good development because the dollar has become very scarce making it difficult for importers who make payment to their suppliers through domiciliary account transfer to even find the dollar to do so.
Manufacturers also cannot pay for raw materials for their products due to scarcity of the dollar