The Central Bank of Nigeria (CBN) has stated that it recently sold a total of 148 million dollars to approved dealers in the Nigerian Foreign Exchange Market (NFEM).

Mrs Hakama Sidi-Ali, interim Director of the apex bank's Corporate Communications Department, said in a statement that the transactions were carried out between Monday and Tuesday to give liquidity to the foreign exchange market.

Sidi-Ali added that the CBN sold foreign exchange to 29 licensed dealer banks at exchange rates ranging from N1,470 to N1,510 per dollar.


She underlined CBN Governor Yemi Cardoso's commitment to stabilize the foreign exchange market.

According to her, Cardoso told her that the CBN will continue to resolve the FX supply shortfall in order to maintain market stability.

NAN recalls that the CBN also sold a total of 106.5 million dollars to 29 authorised dealer banks at rates between N1,498 and N1,530 to one dollar.