Speaking the Nations Mind

CBN Injects $210 Million Into Forex Market


Nigeria’s central bank said on Monday that it had injected $210 million into the interbank foreign exchange market as part of its attempt to boost liquidity and alleviate dollar shortages.

The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses, and $55 million for certain dollar expenses such as school fees and medical bills.

The bank, in an emailed statement, said it would continue to intervene in the foreign exchange market to sustain liquidity.