Nigeria’s central bank has pumped 210 million U.S. dollars into the inter-bank foreign exchange market to boost liquidity in the financial sector.
Authorized dealers in the wholesale segment of the market, according to the apex bank, received the sum of 100 million dollars, while the small and medium-sized enterprises segment received the sum of 55 million dollars late on Tuesday.
Customers who were seeking foreign exchange for invisibles such as tuition fees, medical payments and basic travel allowance, among others, were allocated a total of 55 million dollars, the central bank said in a statement.
The bank’s commitment to sustaining liquidity and ensuring stability in the market remains paramount on the minds of the management of the bank, the statement said.
It added that the continued intervention by the bank underscored its resolve to guarantee access to all those who genuinely required foreign exchange from the forex market.