CBN set to inject more dollars into the economy

​- The Central Bank of Nigeria is set inject more dollars in into the market as its effort to sustain the growth of naira against dollar

- There are strong indications that the apex bank is set into push more dollars into the market to ensure liquidity in the interbank

- The move is also expected to increase the sale of dollars to Bureau de Change operators from $8,000 to $10,000 per week

The move is also expected to increase the sale of dollars to Bureau de Change operators from $8,000 to $10,000 per week

The Central Bank of Nigeria is set inject more dollars in into the market as its effort to sustain the growth of naira against dollar.

Shigosag.blogspot.com gathered there are strong indications that the apex bank is set into push more dollars into the market to ensure liquidity in the interbank.

The move is also expected to increase the sale of dollars to Bureau de Change operators from $8,000 to $10,000 per week.

Since the beginning of the intervention, the CBN has pumped a lot of market into the market to help the naira grow against the dollar.

Confirming the new move, Punch reports that the acting director of corporate communications at the CBN Isaac Okoroafor said the apex bank was determined to sustain its provision for the inter bank.

Okoroafor also said the move will enhance accessibility and affordability for genuine end users.

However, over the weekend, the apex bank called on commercial banks and other dealers in foreign market to desist from sabotaging its efforts.

The CBN said it has received several complaints from customer and end user of frustrations faced in accessing foreign exchange for items like tuition fee, medicals, personal and basic travel allowance.

CBN also urged Nigerians to report any suspected corrupt activities by any bank in accessing foreign exchange.