The Central Bank of Nigeria (CBN) has injected another 195 million dollars into the Foreign Exchange (Forex) market.
Acting Director in charge of Corporate Communication of the CBN, Isaac Okorafor, made this known in a statement in Abuja.
He said the intervention was in line with the apex bank’s commitment to sustain liquidity in the market to meet genuine request as well as deepen flexibility in the forex market.
Okorafor said 100 million dollars was offered in wholesale auction at the interbank market while the Small and Medium Enterprises (SMEs) and invisible segments were offered 50 milion and 45 million dollars respectively.
He said the leadership of the bank expressed delight at the positive impact it’s current forex management was having on the manufacturing sector, agriculture and economic activities across the country.
”The CBN would continue working on achieving the objective of convergence between the exchange rates at the Nigeria Autonomous Foreign Exchange (NAFEX) and the Bureau-de-Change segments of the market,” he said.
Okorafor assured of proper surveillance of the forex market by the apex bank to guarantee transparency in the sale of foreign exchange.
He also advised those who genuinely required foreign exchange for their transactions to approach their banks as they (banks) had enough forex to meet the demand within the stipulated time by the CBN.
