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Again, CBN injects $195m into forex market



Nigeria’s apex bank, Central Bank of Nigeria (CBN) in its intervention strategy has injected another $195million into foreign exchange market, figures released on Tuesday revealed.

The breakdown of the injection showed that the sum of $100m was earmarked for wholesale, $50m for Small Scale and Medium-scale Enterprises and $45m to cater for those paying for medical bills, tuition and basic travel.

Confirming the development, Mr. Isaac Okorafor, CBN’s Acting Director for Corporate Communications, said the apex bank is committed to further ensure forex liquidity and serve legitimate demands.

Okorafor stressed CBN’s committment to continue intervening in the country’s forex market for sustainability and availability of funds as well as guaranteeing naira value in the comity of world currency.

Currently, naira is sold for 360 per dollar in the Bureau De Change segment of the market on Tuesday and 363 per dollarat the parallel market.