According to Ms. Hakama Sidi-Ali, the transactions were carried out on Monday and Tuesday in order to give the FX market liquidity.
According to a Viztadaily News report, the Central Bank of Nigeria has sold authorized dealers in the Nigerian Foreign Exchange Market a total of $148 million.
Hakama Sidi-Ali, the interim director of the CBN’s corporate communications department,
claims that the transactions were carried out on Monday and Tuesday in order to give the FX market liquidity.
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According to Ms. Sidi-Ali, the CBN sold foreign exchange to 29 authorized dealer banks at rates ranging from N1,470 to N1,510 per dollar.
Ms. Sidi-Ali reaffirmed Yemi Cardoso, the governor of the CBN,’s commitment to stabilizing the foreign exchange market.
As per her statement, In order to maintain market stability, Mr Cardoso gave his word that the CBN will keep addressing the FX supply deficit.
Remember that the CBN also sold 29 authorized dealer banks a total of $106.5 million at exchange rates ranging from N1,498 to N1,530 per dollar.
