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Nigerian Apex Bank Injects Additional $210m into Forex

Feb 12, 2020 08:12 PM
Nigerian Apex Bank Injects Additional $210m into Forex Central Bank of Nigeria, Africa Business Radio, Forex, CBN, BTA, Africa Business News, Interbank Foreign Exchange


The Central Bank of Nigeria (CBN) has once again injected the sum of $210 million into the interbank foreign exchange market to boost liquidity in the sector.

The Bank disclosed that of this amount, authorized dealers in the wholesale segment of the market received the sum of $100million, while the Small and Medium Enterprises (SMEs) segment received the sum of $55 million. Similarly, customers seeking foreign exchange for Invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were allocated a total of $55 million.

Confirming the figures, the Director, Corporate Communications Department, Mr. Isaac Okorafor, said the CBN’s commitment to sustaining liquidity and ensuring stability in the market remained paramount on the minds of the Bank’s management. The Bank had last Friday, injected the sum of $218.41 million and CNY18 million into the Retail Secondary Market Intervention Sales (SMIS) segment.

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