CBN to Sustain Dollar Injection

The Central Bank of Nigeria (CBN), has reaffirmed its commitment to continue stabilizing the naira through injection of dollars into the exchange market.

The apex bank’s spokesman, Isaac Okorafor, who made the disclosure last weekend to newsmen said that the CBN will continue to ensure liquidity at the exchange market. He however admitted that the CBN does not have enough dollars to meet all the exchange demands by individuals and businesses at the market.

Mr. Okorafor therefore calls for the people’s understanding and support for the successful implementation of the naira policy of government which is aimed to ease forex crisis experienced in the economy earlier in the year.

The naira closed at 363 per dollar on Friday as against 375 to a dollar on Thursday showing remarkable appreciation.