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Nigeria: Apex bank plans to inject more funds into forex market

The Central Bank of Nigeria (CBN) plans to inject more Foreign Exchange (Forex) into the market to meet the requests of genuine customers and strengthen the naira.The acting Director, Corporate Communications of the CBN, Mr. Isaac Okorafor, told journalists on Sunday in Abuja that the apex bank had so far kept to its promise of continuing to supply enough foreign exchange to guarantee liquidity in the market.


Okorafor assured that the apex bank was committed to ensuring that the authorised dealers got sufficient supply to meet the demands of authentic customers of banks.


According to him, the bank had since February offered over $1 billion to the interbank market and that stability had been restored to the forex market.


He added that individuals could easily access forex to address personal and business allowances.


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