Over $1.5bn injected into Nigeria’s economy – CBN

The Central Bank of Nigeria (CBN) said on Thursday the sum of $1.5 billion was injected into the Nigerian economy in the last few days.

The CBN’s Acting Director of Corporate Communications Department, Hakama Ali, disclosed this to journalists on Thursday in Abuja.

She said the inflow was due to a concerted effort to stabilise the foreign exchange market.

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According to her, the naira has also continued to record gains in the Autonomous Foreign Exchange market as it traded at N1,309/$1 as against N1,611/$1 in the second week of March.

The spokesperson stressed that CBN remained committed to ensuring the stability of the market and the appropriate pricing of the naira against other major currencies worldwide.

By: Babajide Okeowo

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