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CBN Injects $210m Into Forex Market



The Central Bank of Nigeria (CBN), on Tuesday injected 210 million dollars into the inter-bank foreign exchange market to meet customers’ requests in various segments of the market.
CBN’s acting director, Corporate Communications, Mr Isaac Okoroafor, said that the CBN offered $100 million to authorised dealers in the wholesale segment of the market.
Okoroafor said also that the Small and Medium Enterprises (SMEs) segment got $55 million, while another $55 million was allocated for tuition fees, medical payments and basic travel allowance (BTA).
He said that the apex bank would 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, the CBN would not renege on its promise to manage the foreign exchange market with a view to reducing the country’s import bills and halt the depletion of its foreign reserves.

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