The Central Bank of Nigeria has said it will unveil the Bank’s plans for the year during the first Monetary Policy Committee meeting next week.
This comes as the CBN continues its injection into the Retail Secondary Market with the sum of $263 million, its first intervention in that sector this year.
This was in addition to the sum of 39 million Yuan injected through a combination of spot and short-tenured forwards.
Director, Corporate Communications at the CBN, Isaac Okorafor, says the US dollar-denominated interventions were for requests in the agricultural and raw materials sectors while the Yuan sale was for payment of Renminbi-denominated Letters of Credit for agriculture as well as raw materials.
