CBN reports over $1.5bn forex inflow into Nigeria’s economy

PM NEWS

The Central Bank of Nigeria, CBN, said over $1.5bn inflow into the country has been recorded in the past few days.

This development, the apex bank’s Acting Director of the Corporate Communications Department, Hakama Ali, indicated that the CBN’s monetary policy efforts are yielding expected results.

Ali noted that from data available to the bank, the inflows resulted from a concerted effort to stabilize the foreign exchange market by the CBN.

The CBN spokesperson also noted that the naira has also continued to record gains in the Autonomous Foreign Exchange market, as it exchanged at N1,309/$1 as against N1,611/$1 in the second week of March 2024.