Days after intervening in the retail segment of the market with $254.3 million, the Central Bank of Nigeria (CBN) has injected $142.5 million into the inter-bank foreign exchange.
CBN spokesperson, Mr Isaac Okorafor in a statement on Monday said that CBN would continue to carry out its regular mediation in the market to keep the market liquid and guarantee the international value of the naira in line with its mandate.
From the breakdown of Monday’s intervention, it was discovered that the Bank offered $100 million to dealers in the wholesale segment, while it allocated $23 million to the Small and Medium Enterprises (SMEs) segment.
Those requiring foreign exchange for invisibles such as tuition fees, medical payments, business and personal travel allowances also received $19.5 million.
CBN would not relent in ensuring transparency and efficiency in the sale of Forex, Okorafor said.
According to him, the Bank has mandated dealers to make public their forex utilisation.
He, therefore, urged all stakeholders to continually play their roles to guarantee transparency in the market.
NAN reports that the CBN last Friday intervened in the retail segment of the forex market to the tune of $254.3 million following bids received from forex dealers by the apex Bank.
The figure sold by the Bank was for companies in the raw materials, agricultural, airline and petroleum industry.
Meanwhile, the naira maintained its stand at the Bureau de Change (BDC) segment of the forex market, exchanging at an average of N364 to a dollar in Abuja.
Posted by Juliet Ekwebelam
