CBN Boost agric, other sectors with fresh $250m forex 

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CBN releases fresh $250m forex for agric, other sectors

The Central Bank of Nigeria on Wednesday, released additional $250m on seven to 30 day forwards for agriculture, airline, petroleum products and raw materials.

The apex bank also called for bids for wholesale spot for $100m for Basic/Personal Travelling Allowance, medicals and tuition fees.

Confirming this in Abuja, the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, said in a statement issued on Wednesday night that the apex bank has also commenced heavy injections into the spot market.

This, he added, is in addition to the settlement of requests for wholesale spot bids for invisibles like school fees, medicals and personal travel allowance.

The CBN had earlier this week, disbursed $20,000 each to the Bureau De Change operators in two tranches of $10,000 each.

This, according to Mr. Okorafor, underscores the commitment of the CBN to ensure liquidity in the foreign exchange market.

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