The Central Bank of Nigeria on Monday intervened in inter-bank Foreign Exchange Market with the supply of $195m as part of efforts to stabilise the market.
The acting Director, Corporate Communications of the apex bank, Mr Isaac Okorafor, in a statement, said $100m was offered.
He said that Small and Medium Enterprises segment received $50m, while tuition fees, medical payments and Basic Travel Allowance, among others, got $45m.Making all sum up to $I95m.
He said the apex bank remained determined to achieve its objective of rates convergence, “hence the unrelenting injection of intervention funds into the foreign exchange market’’.
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