The Central Bank of Nigeria, CBN, has pumped a fresh sum of $413.5 million into the foreign exchange market to boost liquidity.
The apex bank Acting Director in charge of Corporate Communications, Mr. Isaac Okorafor, gave the break down of the recent cash release on Monday, June 12.
Okorafor disclosed that the CBN offered the sum of $100 million to dealers in the wholesale window, while the Small and Medium Enterprises (SMEs) window was allocated a total of $28 million.
The invisibles segment was allocated the sum of $25.5 million to meet the needs of those requiring forex for Business/Personal Travel Allowances, school tuition, medicals, etc.
According to Okorafor, the bank also released the figures for the auction sales in the retail window last week, totaling $260million.
He said the bank was positive that the local currency will gain grounds against the dollar and other major currencies around the world.
He also implored all dealers, licensed Bureaux De Change (BDCs), to abide by the rule, for the sake of the economy.
