CENTRAL BANK

CENTRAL BANK

The Central Bank of Nigeria has boosted the inter-bank foreign exchange market with two hundred and ten million dollars to meet customers’ requests in various segments of the market.

The Bank’s acting Director, Corporate Communications, Mr Isaac Okorafor, in a statement on Monday in Abuja said the fund would ensure that legitimate demands for foreign exchange are met.

He said that the CBN offered one hundred million dollars to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises segment got fifty five million dollars.

He said also that customers needing foreign exchange for tuition fees, medical payments and Basic Travel Allowance , among others, were also allocated the sum of fifty five million dollars.

Okorafor reiterated the Bank’s determination to continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.