The Central Bank of Nigeria on Tuesday injected the sum of 205 million dollars into the inter-bank foreign exchange market.
This has been a mechanism under the apex banks governors leadership Godwin Emefiele to stabilize the naira and boost liquidity.
Figures obtained from the CBN showed that authorized dealers in the wholesale segment of the market were offered 100million dollars, while the Small and Medium Enterprises segment received 55million dollars.
50 million dollars was also earmarked for customers seeking the greenback for purposes such as tuition fees, medicals among others.
The Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, said that the bank’s effort had helped to guarantee stability in all the exchange rate windows.
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Okorafor, however, noted the growing confidence in the market by investors while attributing it to the restriction on 43 items which has led to backward integration especially in the industrial sector.
Furthermore, the naira on Tuesday exchanged at an average of 361 naira to a dollar in the Bureau De Change segment of the market.