Two days after its Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria (CBN) has announced the inflow of $1.5 billion in foreign exchange into the country.
CBN's Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, stated that the data showed the inflows resulted from CBN’s initiatives to stabilize the foreign exchange market.
Ali reiterated CBN’s unwavering commitment to maintaining exchange rate stability and ensuring the Naira reflects its appropriate value against other major global currencies. She noted that the development “aligns with Governor Olayemi Cardoso’s recent pronouncements following the Monetary Policy Committee (MPC) meeting on March 26th, 2024”.
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