The Central Bank of Nigeria (CBN) on Friday sold a total of
$331.41million to players in different sectors in the Retail Secondary
Market Intervention Sales (SMIS).
This move was in continuation of its push to guarantee foreign exchange liquidity.
Confirming the releases, the Bank’s Acting Director, Corporate
Communications, Isaac Okorafor said “companies in the agricultural,
airlines, petroleum products and raw materials and machinery sectors
were the beneficiaries of the $331.41m intervention.
“The CBN will continue to make interventions in the forex market in
order to guard against illiquidity and checkmate actions of speculators
that could mount pressure on the country’s reserves.”
Reiterating the assurances of the CBN Governor, Godwin Emefiele, he
said the Bank was “buoyant enough to meet the foreign exchange requests
of various customers cut across the different segments of the market.”
He charged every customer requiring foreign exchange to approach
their respective banks with relevant documents to make formal requests,
stressing that the authorized dealers had enough supply to meet every
legitimate request.