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Mr. Isaac Okorafor

Forex: CBN intervenes with another $210m


In another round of intervention, the Central Bank of Nigeria (CBN) has injected the sum of $210million into the inter-bank Foreign Exchange Market to ensure the availability of forex and also meet customers’ requests in various segments of the market.

Forex: CBN intervenes with another $210m

The interbank window of Nigeria’s Foreign Exchange market has received a boost of $210,000,000.00 from the Central Bank of Nigeria (CBN).According to figures obtained from the bank, the interventions were for the Wholesale, Small and Medium Enterprises (SMEs) and invisibles segments of the market.

Central Bank of Nigeria said that it is investigating activities of some banks in the country with respect to certain financial transactions.

The CBN had in a statement issued by Ag Director of Corporate Communications Mr. Isaac Okorafor revealed that it is conducting the investigation in partnership with relevant agencies of government.

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