CBN Intervenes In Forex Market With $210m

Godwin Emefiele, Governor, Central Bank of Nigeria


The Central Bank of Nigeria (CBN), on Tuesday, released the sum of $210 million in various segments of the inter-bank foreign exchange market.

The Bank’s Acting Director, Corporate Communications Department (CCD), Mr. Isaac Okorafor, who confirmed the figures, said the latest intervention is to ensure that forex is available for customers’ in various segments of the market.

According to the figures obtained from the CBN, the apex Bank offered $100million to authorized dealers in the wholesale segment of the market, while the Small and Medium 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.

Okorafor reiterated the Bank’s commitment to continue to intervene in the country’s interbank foreign exchange market, while assuring that the CBN will continue to ensure liquidity and sustain the stability in the market.

THE WHISTLER reported last Tuesday, that the apex Bank injected the total sum of $303.91 million and CHY46.58 million into the spot and short tenored forwards of the inter-bank foreign exchange market with.

Meanwhile, the Naira continued its stability in the forex market, exchanging at an average of N361/$1 in the Bureau De Change segment of the market today.


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