Home BANKING & FINANCE Central Bank Gives Retail Secondary Market $343.06 Million Boost

Central Bank Gives Retail Secondary Market $343.06 Million Boost

Isaac Okorafor, CBN spokesman

The Central Bank of Nigeria (CBN) has given the retail Secondary Market Intervention Sales (SMIS) a boost of $343.06 million.

According to the Acting Director, Corporate Communications at the CBN, Isaac Okorafor, got various allocations were given to the agricultural, airlines, petroleum products and raw materials and machinery sectors.

He said that the continued interventions of the apex bank are in line with the assurances made by the Governor, Godwin Emefiele, to sustain market liquidity in order to boost production and trade as well as maintain stability in the forex market.

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

It will be recalled that on Tuesday, June 12, the Bank injected the sum of $210 million into the Wholesale segment of the inter-bank Foreign Exchange Market.

Meanwhile, the naira exchanged at N362/$1 in the BDC segment of the market today, Thursday.