Forex: Wholesale segment, others get $210m boost

Spread the love

Authorized dealers in the wholesale segment of the inter-bank foreign exchange market received the sum of $100million from the Central Bank of Nigeria (CBN) on Tuesday, to meet the needs of customers.

The CBN also on Tuesday allocated the sum of $55million each to the Small and Medium Enterprises (SMEs) and the invisibles segments.

The figure for the invisibles was meant for customers requiring it for tuition fees, medical payments and Basic Travel Allowance (BTA) amongst others.

The Director, Corporate Communications at the Bank, Isaac Okorafor, reiterated that the Bank’s continued intervention in the inter-bank sector was aimed mainly at ensuring adequate liquidity in the market, even as he noted that there was not much pressure on the naira.

POST RECOMMEND FOR YOU   Day Two: Buhari's N-Power Website Back After Crash

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N361/$1 in the BDC segment of the market on Tuesday, October 9, 2018.

Also Read

N1.5 billion Contract Scam; Omatseye Ex-NIMASA DG,... A Lagos Federal High Court, today, convicted and sentenced a former Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), R...
NEMA, NOA Launches Advocacy Campaign in North East The National Emergency Management Agency (NEMA) in collaboration with National Orientation Agency (NOA) has begun an advocacy campaign in the volatile...
Don’t Drag us into Your Problems – Sul... The kinsmen of former governor of Enugu State, Barrister Sullivan Chime has accused him of neglect while in office for eight years as the state chief ...
Judges Arrest Aimed At Fighting Corruption Not Jud... Following angry reactions witnessed across Nigeria over the recent arrests of Judges in raids on their homes by operatives of Nigeria's secret police,...
How Corruption Delivered Quadruplet in Nigeria, Ma... Corruption has given birth to quadruplet or quadrupled in Nigeria since the inception of the Buhari/Osinbajo Administration in late May 2015. It has a...

About Oru Leonard


Leave a Reply