Two days after its Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria has announced the inflow of $1.5 billion foreign exchange into the country. 

CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali said that the data showed that the inflows stemmed from CBN’s initiatives to stabilize the foreign exchange market.

Reiterating CBN’s unwavering commitment to maintaining exchange rate stability and ensuring the Naira reflects its appropriate value against other major global currencies, Ali stated that the development “aligns with Governor Olayemi Cardoso’s recent pronouncements following the Monetary Policy Committee (MPC) meeting on March 26th, 2024”.