The Central Bank of Nigeria (CBN), on Tuesday restated its commitment to sustain its intervention in the inter-bank segment of the foreign exchange market, despite the stable rate of N360/$1 and the expected inflow from various sources such as the Eurobond and remittances from the Diaspora.
Acting Director, Corporate Communications at the CBN, Isaac Okorafor, while speaking against the backdrop of the latest sale of $210m at the inter-bank window said such would guarantee liquidity, boost trade and ease remittances for legitimate personal commitments.
The interventions were for the Wholesale, Small and Medium Enterprises (SMEs) and invisibles segments of the market, out of which $100m went to the wholesale segment, while the SMEs and invisibles segments each received the sum of $55m.
He noted that the sustained interventions had largely checked unwholesome activities of currency speculators and that the CBN would not relent in its daily monitoring of activities in the market to ensure that all concerned operate in line with extant rules.
Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N360/$1 in the BDC segment of the market on Tuesday, December 12, 2017.