The naira is expected to appreciate in the coming days as the Central Bank of Nigeria injected $297 million through Secondary Market Intervention Sales, raising the total intervention for the week to $547 million.
CBN acting Director, Corporate Communications, Isaac Okorafor says the bank is determine to lift the naira exchange rate, boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions.
The spokesman also expressed confidence that the interventions would continue to guarantee stability in the market and ensure availability to individuals and business concerns with genuine demand for forex transactions.
