FULL LIST: Access, FBN, Fidelity… CBN sells dollars to 26 banks, disqualifies six

August 11, 2024 2:12 pm

Taiwo Oyedele: Payment of taxes in foreign currency affecting naira, businesses

The Central Bank of Nigeria (CBN) says it sold foreign exchange (FX) to banks worth $876.26 million at N1,495 per dollar.

According to a statement dated August 7, signed by Omolara Omotunde Duke, CBN’s director of the financial markets department, the apex bank said the auction aimed to reduce demand pressure in the FX market and promote price discovery.

The CBN said the transaction was conducted through a retail Dutch auction system (rDAS).

According to the apex bank, while bids valued at $876.26 million from 26 banks qualified, bids from six banks were disqualified.

The CBN said four banks missed the deadline and two did not provide bids in their submitted templates.

Below is the full list of successful and unsuccessful bids.

SUCCESSFUL BIDS

S/N	BANK	SUCCESSFUL BIDS ($)
1.	Access	79,092,862.79
2.	Citi	12,001,875.89
3.	Coronation	4,474,753.38
4.	Ecobank	5,320,365.25
5.	FBN	228,994,949.57
6.	FBN Quest	5,089,359.92
7	Fidelity	43,616,742.68
8.	FSDH	1,999,399.52
9.	Globus	11,070,395.30
10.	Greenwich	17,21.40
11.	GTB	29,543,429.06
12.	Jaiz	16,708,748.35
13.	Keystone	4,635,899
14.	Lotus	4,024,818.31
15.	Nova	2,098,539.51
16.	Parallex	548,052.17
17.	Polaris	10,440,523.75
18.	Providus	11,453,580.97
19.	Signature	551,753
20.	Stanchart	28,429,525.73
21.	Sterling	14,397,359.41
22.	Taj	19,107,550.88
23.	Titan	790.78
24.	Union	13,268,519.66
25.	Unity	616,138.33
26.	Zenith	267,862,855.69
	Total	815,362,006.30

DISQUALIFIED BANKS

S/N	BANK	AMOUNT	REMARKS
1	UBA	13,213,785.91	Late submission
2	FCMB	178,652,316.84	Late submission
3	Stanbic	57,857,408.12	Late submission
4	Wema	21,940,547.84	Late submission
5	Suntrust	7,379,787.50	No bid rates
6	Rand	0	No bid received
	Total	279,043,846.21