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CBN stops dollar sales to NNPC

aosnews by aosnews
March 23, 2020
in Business, National, News
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CBN stops dollar sales to NNPC
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CENTRAL Bank of Nigeria (CBN) has stopped local and international oil companies from selling dollars to the Nigerian National Petroleum Corporation (NNPC).

The apex bank said the move is in line with the its determination to improve foreign exchange supply to the economy as the impact of the Coronavirus (COVID-19) pandemic bites harder on the economy. The country’s foreign exchange earnings have been depleted.

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