One of the major commercial banks in the country, First Bank Nigeria Plc was allocated $13,745,768.19 by the Central Bank of Nigeria, CBN, last week. This was revealed in the latest returns on forex utilization.
According to the returns, FirstBank sold the greenback to 678 customers.FirstBank’s biggest customers, were Dangote Cement Plc, which got $2 million for the importation of machinery for its cement plants.
Gulf Treasures Limited followed closely with a purchase of $1 million from the bank for the importation of gasoline.Also Kam Industries Nigeria Limited purchased $1 million.
However, the lender sold out the bulk of its forex for the payment of school fees abroad.