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    CBN injects $210m into foriegn exchange market

    Chronicle EditorBy Chronicle EditorJanuary 15, 2018No Comments2 Mins Read
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    Bank erroneously credits customer's account with $81tn
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    The Central Bank of Nigeria (CBN) has injected another 210 million dollars into the inter-bank Foreign Exchange Market to meet customers’ requests in various segments.

    Giving a breakdown of the intervention, the bank’s acting Director, Corporate Communications, Mr Isaac Okorafor on Monday in Abuja said that 100 million dollars was offered to authorised dealers in the wholesale segment of the market.

    He said that the Small and Medium Enterprises (SMEs) segment received the sum of 55 million dollars.



    Also, customers requiring foreign exchange for tuition fees, medical payments and Basic Travel Allowance (BTA), among others were allocated the sum of 55 million dollars.

    Okorafor said also that bidders who made bids in the wholesale window would receive value for the bids on Tuesday.

    Read Also Stoke City appoint Paul Lambert as new manager

    He reassured the public that the CBN would continue to intervene in the interbank foreign exchange market in line with its resolve to sustain liquidity in the market and maintain stability.

    According to him, the steps taken so far by the CBN in forex management had yielded many positive results, particularly as it had to do with reduction in the country’s import bills and accretion to its foreign reserves.

    It will be recalled that the CBN last Friday, intervened in the Retail Secondary Market Intervention Sales (SMIS) to the tune of 262.5 million dollars, to cater for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

    Meanwhile, the naira continued its stability in the FOREX market, exchanging at an average of N360 to a dollar in the Bureau De Change segment of the market.

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    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    ADC will dismantle party that kept Nigerians in poverty, insecurity – Obi

    Desperados for power': Onanuga slams ADC defectors, says APC won’t miss them

    Onanuga slams ADC defectors, labels coalition a gathering of “desperados”

    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    Desperados for power': Onanuga slams ADC defectors, says APC won’t miss them

    ‘Desperados for power’: Onanuga slams ADC defectors, says APC won’t miss them

    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    Mark says Tinubu’s govt hijacking democracy, fueling poverty, insecurity

    Mark says Tinubu’s govt hijacking democracy, fueling poverty, insecurity

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    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    ADC will dismantle party that kept Nigerians in poverty, insecurity – Obi

    July 3, 2025
    Desperados for power': Onanuga slams ADC defectors, says APC won’t miss them

    Onanuga slams ADC defectors, labels coalition a gathering of “desperados”

    July 3, 2025
    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    July 3, 2025
    Desperados for power': Onanuga slams ADC defectors, says APC won’t miss them

    ‘Desperados for power’: Onanuga slams ADC defectors, says APC won’t miss them

    July 3, 2025
    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    July 2, 2025
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