Nigeria: CBN Sells $195m to Forex Dealers

22 August 2017

Abuja — The Central Bank of Nigeria (CBN) on Monday, boosted the FOREX market by offering a total of $195m in three segments of the market. In the wholesale segment of the inter-bank Foreign Exchange market, it auctioned $100m and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with the sum of $50 million and $45million respectively. A statement from the bank said.

The acting director, Corporate Communications Department, Mr. Isaac Okorafor, said during this season when there are pressures on the market from those seeking forex for school fees and vacations, the Bank has kept faith with its resolve to ensure that there is sustained liquidity in the market and ensure that genuine requests for FOREX are met, as well as improve liquidity and flexibility in the market.

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