Business

CBN injects $210m in foreign exchange market

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The Central Bank of Nigeria, CBN, Wednesday, continued its intervention in the internet-bank segment of foreign exchange market as it injected another $210 million.

According to the CBN, authorised dealers in the wholesale segment of the market got $100m, while those in the Small and Medium Enterprises segment were offered $55m.

Similarly, customers purchasing foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance, among others, were offered $55m.

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Confirming this, the Director, Corporate Communications Department, CBN, Mr Isaac Okorafor, said that the CBN would continue to ensure the availability of foreign exchange in order to ensure continued stability in the markets.

The apex had last week Thursday intervened in the retail secondary market sales segment with $254.8m and CNY34.8m.

Timothy Enietan-Matthews

Timothy is a versatile journalist, down to earth with a critical and curious mind.

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Timothy Enietan-Matthews

Timothy is a versatile journalist, down to earth with a critical and curious mind.