The Central
Bank of Nigeria, CBN, has again intervened in the Inter-Bank Foreign Exchange
Market to the tune of 250 million dollars.
The Acting Director, Corporate
Communications Department, CBN, Isaac Okorafor, said the apex bank also sold
$100 million and uplifted the Small and Medium Enterprises and invisible
segments, with $85 million and $65 million respectively.
Mr. Okorafor said that the apex
bank would pump even more liquidity into the market in the coming days, noting
that the move by the CBN was necessary to enhance stability in the foreign
exchange market.
He reiterated that in a bid to
improve liquidity and ameliorate challenges encountered by critical
stakeholders at this time of the year, the bank had ensured that pressures on
the market from those seeking Forex for school fees and vacations were eased.
He said further that the bank had
kept faith with its resolve to ensure that there is sustained liquidity to meet
genuine requests for foreign exchange.
(NAN)
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