In a notice to forex dealers, the regulatory bank said the sales will be through a combination of spot and short tenored forwards.
It noted that Authorised Dealers are to debit customers’ accounts for the Naira equivalent of their bids.
Nigeria's central bank intervenes in the foreign exchange market regularly to inject liquidity and support the local currency.
The Friday sales before Saturday's election may be part of measures to reassure the market and ensure the local currency is not put under undue pressure, traders said.
The foreign exchange intervention could lead to a drop in the level of liquidity in the money market and push up the cost of borrowing among commercial lenders and they scramble to make provision of their forex purchases.
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