Between April 2018 and March this year, the Central Bank of Nigeria injected over $42.3bn into the foreign exchange market to ensure liquidity in that segment of the economy.
The $42.3bn was arrived at by our correspondent based on figures released by the CBN.
The CBN usually intervenes in the forex market by injecting liquidity about three times a week.
The intervention is provided to authorised dealers in the wholesale segment of the market, as well as other sectors of the economy such as agriculture, manufacturing and Small and Medium Enterprises segment.
Customers that require foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance, are also allocated funds from the intervention.
Source: Punch Newspaper
