After putting in a total of $1.2bn into the foreign exchange market in the past two weeks, the CBN is set to pump in some more dollars this week.
This is in a bid to stem liquidity challenges faced by businesses and individuals across the nation.
Commenting on the proposed action of the CBN, the bank’s spokesperson, Isaac Okorafor noted that the bank is resolute in its decision to stabilise the naira, and at the same time reduce the challenges faced by business people.
He went further to caution dealers in foreign exchange not to engage in any unwholesome practice that is detrimental to smooth operations in the market, warning that the CBN would impose heavy sanctions on any organization or official involved in such act.
