Nigerian naira firms on oil companies' dollar sales

The Nigerian naira firmed against the dollar on the interbank market on Wednesday, boosted by greenback sales by three major oil companies operating in Africa's top crude exporter.
   The local unit closed at 159.60 to the dollar, up from Tuesday's 159.80 to the dollar.
   Traders said unit of U.S. oil firm Chevron sold $19 million to some lenders, Addax sold $10 million, while Italian Eni sold $20 million, boosting dollar liquidity.
   At the official foreign exchange auction, the central bank offered $400 million on Wednesday, compared with $349.86 million sold at 155.72 naira to the dollar on Monday.
   "We see the naira depreciating around 160 to the dollar level in the week because we are not expecting additional dollar flows from any of the oil companies soon," one dealer said.
   The naira, which opened the year at 158.80 to the dollar last Thursday, weakened subsequently on the back of strong importers' demand and weak dollar supply from oil companies.