The Central Bank of Nigeria (CBN) on Tuesday intervened in the interbank foreign exchange market to the tune of $210 million. According to the figures obtained from the CBN, it offered $100million to authorised dealers in the wholesale segment of the market, while the small and medium scale enterprises (SMEs) segment received the sum of $55 million. Customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others, were also allocated the sum of $55 million. Confirming the figures, the Bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor, reiterated the central bank’s commitment to continue to intervene in the country’s interbank foreign exchange market.
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Category: Market News