Central Bank of Nigeria (CBN) Acting Director, Corporate Communications, Mr. Isaac Okorafor has said that the CBN injected 210 million dollars to boost the inter-bank foreign exchange market and to meet customers’ request in various segments of the market.
In his statement, Okorafor said the fund would ensure that legitimate demands for foreign exchange were met.
He disclosed that the CBN offered 100 million dollars to approve dealers in the wholesale segment of the market, adding that the Small and Medium Enterprises (SMEs) got 55 million dollars.
He said customers in need of foreign exchange for tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of 55 million dollars.
Okorafor revealed the Bank’s determination to continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.
According to him, CBN would continue to manage the forex market with a view to reducing the country’s import bills and minimise depletion of foreign reserves.
Meanwhile, the Naira exchange at an average of N361 to a dollar at the Bureau de Change segment of the market.
