ABUJA, April 11 Nigeria's central bank on
Tuesday said it sold $100 million in spot sales to small and
medium-size enterprises (SMEs) as part of a move to inject
liquidity into the official market.
The bank on Monday said it was offering SMEs up to $20,000
per quarter in an effort to prop up businesses whose access to
foreign currencies has been overshadowed by larger companies.
The country is battling a currency crisis brought on by low
oil prices, which has tipped Africa's biggest economy into
recession, hammered its dollar reserves and created chronic
dollar shortages, frustrating businesses and individuals.
Also on Tuesday, the bank said it had sold $100 million
that was auctioned on Monday in forwards to be settled between
one week and 30 days' time.
(Reporting by Camillus Eboh; Writing by Alexis Akwagyiram;
Editing by Alison Williams)