CBN invests $210m in Nigeria’s FX market

by Ruth Olurounbi
1 minutes read

A fresh investment of $210 million has been made by the Nigerian central bank into the country’s inter-bank foreign exchange market, “in its determination to boost supply in that sector of the market” the bank’s spokesperson said on Tuesday.

Isaac Okorafor, Director, Corporate Communications at the central bank said the CBN offered the total sum of $100million to the wholesale segment and offered the sum of $55 million to the Small and Medium Enterprises (SMEs) segment.


The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, also received $55 million, he said.

Meanwhile, the naira continued to maintain its stability in the FOREX market, exchanging at an average of N356/$1 in the BDC segment of the market on Tuesday, February 19, 2019.


You may also like


About Us

PSN online prides itself in its ability to generate and publish quality content that attracts a broad user base. Our editorial team situated across the continent, works day and night to update our sites, with a special focus on breaking news flashes.

@2023 – All Right Reserved.