Federal finance and statistics / Central Bank of Nigeria

Non-Transferability Of Funds Procured From The Wholesale Dutch Auction System (WDAS) among Authorized Dealers

Keywords: The CBN has observed with concern the widening spread between teh WDAS and the inter-bank exchange rates. This has been traced largely to authorized dealers who purchase funds at the WDAS window and sell at teh inter-bank market. As a result of this activity, the end-users end up paying a high price for foreign exchange due to the arbitrage activities of the banks. Consequently, The following guidelines which take effect from teh date of this circular are issued and it supersedes that of paragraph 9 of the circular reference TED/FEM/FPC/GEN/01/10 dated July 8, 2009. (a) Funds procure…

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Source	Central Bank of Nigeria
Collection	Federal finance and statistics
Kind	Document
Publisher	Central Bank of Nigeria
Date	2009-08-03
Type	circular
Found at	https://www.cbn.gov.ng/api/GetAllCirculars
Archived copy	Look it up in the Wayback Machine
Record ID	`cbn:cbn:05bfcd3d512cf50a`

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Non-Transferability Of Funds Procured From The Wholesale Dutch Auction System (WDAS) among Authorized Dealers. Central Bank of Nigeria, 2009. Vero Archive, record cbn:cbn:05bfcd3d512cf50a.