The Central Bank of Nigeria (CBN) has injected $210 million into the inter-bank foreign exchange(forex) market in continuation of its efforts to sustain liquidity.
The apex bank offered $100 million to authorized dealers in the wholesale segment of the market. The Small and Medium Scale Enterprises (SMEs) segment received $55 million while the sum of $55 million was also apportioned to invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA)
A statement from the Bank’s Acting Director, Corporate Communications Department, Mr. Isaac Okorafor, confirmed the figures and reiterated CBN’s capacity to continue to sustain the foreign exchange intervention.
Okorafor urged banks to continue to honour requests from customers with genuine needs, noting that CBN will continue to sustain liquidity in the foreign exchange market.
Meanwhile, the nation’s currency continued on to maintain its stability in the market, exchanging at an average of N362/$1 in the BDC segment of the market on Wednesday.