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Monthly Average Exchange Rates of the Naira (Naira Per Unit of Foreign Currency) -
Month January
DAS/WDAS (USD) 169.68 0.00 0.00
IFEM (USD) 181.78 0.00 0.00
BDC (USD) 196.13 0.00 0.00
POUNDS 254.39 0.00 0.00
EURO 194.85 0.00 0.00
CFAFr 0.30 0.00 0.00
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DAS/WDAS = Dutch Auction System/Wholesale Dutch Auction System, IFEM is Inter-bank Foreign Exchange Market, BDC is Bureau de Change
DAS/WDAS exchange rate from August 2005, include 1 per cent commission
Facts : 7/1/1959
BOARD OF DIRECTORS:The Management of the CBN is placed under a Board of Directors which is responsible for the Policy and General administration of the Affairs and Business of the Bank.Under the original statute,the Board was composed of the Governor as Chairman,a Deputy Governor and Five other Directors all of whom were appointed by the Federal Government.
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