CENTRAL BANK OF NIGERIA INCREASE AND BUY MORE U.S DOLLARS IN FOREIGN EXCHANGE

News bear it that CBN have derive a means of strengthen the value of Naira by pumping Dollars into the forign exchange market. News also learnt that the fresh injection might cause a liquidity glut in the system with some banks despite that bank had earlier released $80m for dollar demands for school fees, medicals and Personal Travel Allowance, and injected another $100m into the wholesale forwards segment of the market. Isaac Okorafor who is the Acting Director, Corporate Communications, CBN, the fresh strategy, said with improving reserve levels, the apex bank was determined to continuously make forex available to all genuine customers through their banks