Central Bank Injects $210 Mln Into Currency Market

CBN Governor, Godwin Emefiele

Nigeria’s central bank said on Monday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.

The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar expenses such as school fees and medical bills.

The central bank said it: “will continue to manage the forex with a view to reducing the country’s import bills and halting accretion to its foreign reserves.”