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Nigeria central bank to auction $500 mln currency forwards – Reuters

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LAGOS Oct 31 (Reuters) – Nigeria central bank has asked commercial lenders to submit bids to participate at a $500 million “special forward auction” to clear a backlog of dollar demand, traders said on Monday.

The bank told lenders that the deadline for submitting bids was 1300 GMT and that it will sell forwards with 60-day and 90-day maturities, they said. (Reporting by Chijioke Ohuocha and Oludare Mayowa; Editing by Louise Ireland)