In another round of intervention, the Central Bank of Nigeria (CBN) has injected the sum of $210million into the inter-bank foreign exchange market to ensure the availability of forex and also meet customers’ requests in various segments of the market.
At the trading on Tuesday, the CBN offered $100million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million.
Customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million.
The apex bank’s acting director, Corporate Communications Department (CCD), Mr. Isaac Okorafor reassured the public that the Bank would continue to intervene in the interbank foreign exchange market in line with its quest to sustain liquidity in the market and maintain stability.
He added that the steps taken so far by the Bank in the management of forex had paid off, as reflected by reduction in the country’s import bills and accretion to its foreign reserves.
Meanwhile, the naira exchange rate remained stable in the forex market, exchanging at an average of N360/$1 in the BDC segment of the market yesterday.
How To Permanently Cure Premature Ejaculation, Weak Erection And Last Longer in Bed With Increased Manhud
Why Buhari Will Win
‘Why Re-scheduled Elections May Not Hold’
Feb 23 : FG Orders Immediate Payment of Salaries to Workers
PMB Won’t Leave Niger Delta Behind – Dokubo
NEWS17 hours ago
Army University Matriculates First Set Of Students
CRIME11 hours ago
APC Supporter Shot Dead In Enugu
CRIME18 hours ago
$166m Fraud: Bank MD Sentenced To 4-years In Prison
POLITICS15 hours ago
Election: PMB’ll Congratulate Anybody Who Wins – APC
POLITICS12 hours ago
Yobe PDP Chairman Defects To APC
NEWS20 hours ago
Purported Resignation: Prof Osinbajo Dismisses Fake News Alert
POLITICS21 hours ago
2019 Senate: My Popularity To Bring Me Victory, Orji Kalu
NEWS22 hours ago
Polls: Again, FG Orders 48 Hours Closure Of Land, Sea Borders