CBN lifts forex market with $210m


The Central Bank of Nigeria (CBN) has provided fresh $210 million to meet customers’ requests in various segments of the foreign exchange market.

The apex bank’s acting director, corporate communications, Isaac Okoroafor in a statement in Abuja, said the CBN offered $100 million to authorised dealers in the wholesale segment of the market.

He said also that the Small and Medium Scale Enterprises (SMEs) segment received $55 million, while another $55 million was apportioned to invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA).

Okoroafor reassured the public that the bank would continue to intervene in the interbank foreign exchange market, in line with its determination to sustain liquidity in the market and maintain stability.

He said further that the steps taken so far by the bank in the management of foreign exchange had paid off, as reflected by reductions in the country’s import bills and accretion to its foreign reserves.



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