Forex: CBN renews commitment to growth

The Central Bank of Nigeria has injected a total of $285.7million into the Inter-Bank Foreign Exchange Market to meet requests in the agricultural, airline, petroleum and manufacturing sectors.
Documents obtained from the CBN indicated that the four sectors received various sums of allocation from the apex bank, based on requests put forward by their respective
banks.
The Acting Director, Corporate Communications, CBN, Dr. Isaac Okorafor, explained that the apex bank would continue to play its role in easing the foreign exchange pressure on manufacturing and agricultural sectors with the new flexible forex regime.
Recall that the CBN had consistently injected funds into the interbank market to ensure liquidity, thereby easing pressure on the local tender currency.
Meanwhile, the naira continued to maintain its stability in the market. It was exchanged at an average of N360/$1 in the Bureau de Change segment of the market.