CBN Pumps Fresh $210m Into Forex Market

The Central Bank of Nigeria () on Monday boosted the inter-bank Foreign Exchange Market with 210 million dollars.

The apex bank said this was done to sustain liquidity in the foreign exchange market.

Acting Director of Corporate Communications Department of the bank, Isaac Okoroafor, said the move would ensure the continuous availability of foreign exchange to customers.

In a breakdown, Okoroafor said that the bank offered 100 million dollars to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises segment received 55 million dollars.

He said also that customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated 55 million dollars.

The CBN official reassured Nigerians that the bank would continue to intervene in the interbank foreign exchange market to sustain liquidity in the market and maintain stability.


Farouk Mohammed

Farouk Mohammed is a Senior Editor at Okay Nigeria (Okay.NG). He has been publishing for 5 years and focused more on Local/World News on Okay Nigeria.

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