Again, CBN Intervenes with Fresh $343 Million


The Central Bank of Nigeria (CBN) has again intervened in the retail Secondary Market Intervention Sales (SMIS) to the tune of $343.06 million.

Figures made available by the bank thursday indicate that the amount released was for requests in the agricultural, airlines, petroleum products and raw materials and machinery sectors.

The Acting Director, Corporate Communications at the CBN, Isaac Okorafor confirmed this, saying the continued intervention were in line with the assurances made by the CBN Governor, Mr. Godwin Emefiele, to sustain market liquidity in order to boost production and trade and maintain stability in the forex market.

Speaking further, Okorafor assured stakeholders that the CBN remained very committed to ensuring that all the sectors continue to enjoy access to the foreign exchange required for the business concerns.

The CBN recently injected the sum of $210 million into the interbank foreign exchange market.

Meanwhile, the naira exchanged at N362/$1 in the Bureau De Change segment of the market yesterday.