CBN Disburses $355m For Raw Materials Import

dollarsThe Central Bank of Nigeria has issued a statement that it disbursed the total sum of $355.74m for raw materials import in the month of October.

The CBN said the disbursement was for 7,792 requests it received for raw materials and spare parts sourcing.

The amount was about 40.99% of the total $867.83m that the apex bank disbursed as special interbank foreign exchange package in the month of October.

A breakdown of the figure shows that the highest percentage went for school fees medicals and other invisibles.

Petroleum industries got $150m while the manufacturing sector got $91m.

CBN Director, Corporate Communications Department, Isaac Okoroafor said the disbursement was in continuation of the apex bank’s resolve to ease foreign exchange pressures on manufacturers.

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