CBN Injects Fresh $210 Million into Forex Market

The Central Bank of Nigeria (CBN) has disclosed that it has injected another $210 million into the foreign exchange market.

The Acting Director, Corporate Communications Department, Mr Isaac Okoroafor, in a statement in Abuja, explained that the move is to guarantee the availability of foreign exchange for capital exit.

In the statement, out of the figure, $100 million was allocated to authorized dealers in the wholesale segment of the market, while small and medium enterprises are to receive $65 million. Capital also requiring forex for tuition fees, medical payments and Basic Travel Allowance (BTA) was allocated $65 million.

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