Nigeria’s apex bank has intervened in the Inter-Bank market to the tune of 364 million U.S. dollars to sustain liquidity in the Foreign Exchange (Forex) Market, an official said Tuesday.

The Retail Secondary Market Intervention Sales (SMIS) received the largest allocation of about 264.1 million dollars, Isaac Okorafor, a spokesperson for the Central Bank of Nigeria (CBN) said in a statement reaching Xinhua in Lagos, the nation’s economic hub.

He said the bank also offered 100 million dollars to authorized dealers in the wholesale window.

Okorafor added that the bank remains committed to achieving a convergence of rates at the inter-bank and Bureau-de-Change segments of the market.

The apex bank had recently intervened in the wholesale, Small and Medium Enterprises (SMEs) and invisible windows to the tune of 195 million dollars. Enditem

Source: Xinhua/