The apex bank of Nigeria, CBN has pumped more foreign exchange into the local market for the purpose of boosting the value of the naira.
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Nigeria’s central bank said on Tuesday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.
The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar expenses such as school fees and medical bills.