Commercial banks have asked customers to submit bids ahead of the start of new interbank foreign exchange trading on Monday.
This was revealed by an anonymous senior banker to Reuters on Saturday.
On Wednesday, the Central Bank of Nigeria (CBN) said it would begin a market-driven trading of the naira to alleviate chronic foreign exchange shortages, but it has given few details on how.
According to Reuters, banks asking customers to submit bids is a signal that the new forex trading platform will be driven by market forces and not dominated by internal bank trading.
After a meeting with CBN officials and bank chief executives late on Friday, banks asked their clients to send them pending letters of credit (LCs) for them to resubmit and to quote a rate at which they want to buy dollars, the source said.
Customers have so far submitted bids between 210 and 290 naira to the dollar, the source said.