Nigeria Sees Over $1.5 Billion Inflow to Economy, Says CBN



The Central Bank of Nigeria (CBN? has said that it recorded an inflow of over $1.5 bn into the economy over the past few days, indicating that its monetary policy efforts are working positively.

The bank’s acting Director, Corporate Communications Department, Mrs. Sidi Ali, made the assertions in a statement made available to the media on Friday.

She noted that data available to the bank indicated that the inflow resulted from the bank’s effort to stabilise the foreign exchange market.

Ali said the naira has also continued to record gains in the Autonomous Foreign Exchange market as it traded at N1,309/$1 as against N1,611/$1 in the second week of March 2024.

Ali assured that the Cardoso-led CBN would remain committed to ensuring the stability of the market and the appropriate pricing of the Naira against other major currencies worldwide.


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