The Central Bank of Nigeria (CBN) has disclosed that the Nigerian economy witnessed $1.5 billion foreign exchange inflow into the country, two days after the Monetary Policy Committee (MPC) meeting.
Acting Director of Corporate Communications, Hakama Sidi Ali, in a statement said the stabilization is reflected in the Naira’s appreciation trading at N1,309/$1, compared to N1,611/$1 within the Autonomous Foreign Exchange (AFEX) market.
While acknowledging the positive trend, Ali emphasized the CBN’s unwavering commitment to maintaining exchange rate stability and ensuring the Naira reflects its appropriate value against other major global currencies.
Meanwhile, the apex bank also revealed plans to partner law enforcement agencies, to monitor recapitalisation in Nigerian banks, to prevent the influx of illicit financing into the sector.
