CBN PUMPED BIG AMOUNT OF MONEY IN FOREX MARKET.

News bear it that the total Amount pumped into the inter bank forex market with the period of two weeks was $1.138 billion which was for both forwards and invisible. The fresh pump by the Apex Bank on Monday into the foreign exchange market which was $367 million and on Tuesday, only to follow up, another $100 million. A comment was made by the the bank’s acting director of corporate communications who happens to to be Mr Isaac Okorafor. According to him the intention of the Bank is to fund and empower the commercial Bank with enough Forex to cater for the request of medicals and tuition fees, customers to meet personal travelling allowance (PTA) and basic travelling allowance (BTA). All Banks has been instructed by the Central  Bank of Nigeria (CBN) to direct open sales points in all its locations, these includs airports. The purpose of this is to easy access to foreign exchange by customers without and hindrance of any form.