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The Central Bank of Nigeria says it will commence a Retail Dutch Auction System to address foreign exchange fluctuations in the country’s forex market. The apex bank disclosed this in a circular at the weekend, noting that there has been a surge in the demand for FX in recent times. The bank stated that the DAS, which is planned to kick off on Wednesday, 7 August 2024 would tackle the FX crisis in Nigeria. Consequently, CBN directed all authorized dealer banks to submit a comprehensive and legitimate list of outstanding FX demands from their end users. “The accounts of prospective customers mu…

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