The Central Bank of Nigeria has again intervened in the Retail Secondary Market Intervention Sales with $321.4 million.
Figures obtained from the Bank on Friday revealed that the amount was for requests in the agriculture, aviation, petroleum products, raw materials and machinery sectors.
Confirming the figures, CBN’s Acting Director, Corporate Communications, Isaac Okorafor, said that the intervention was in line with assurances made by CBN Governor Godwin Emefiele to sustain market liquidity, boost production and trade, and maintain stability in the forex market.
Okorafor said the CBN remained committed to ensuring that all the sectors enjoy access to foreign exchange.
The CBN in its last SMIS earlier in February 2018 had injected $325.64 million into the inter-bank Foreign Exchange Market.
However, the Naira appreciated at the Bureau De Change and the parallel market segments by 0.28 per cent each, to close at N359/$ and N362/$ respectively, while it closed flat against the Dollar at the interbank foreign exchange market at N330/$ on successfully raised $2.5 billion Eurobond.
The apex bank had on Friday, expressed readiness to support anyone willing to invest in agriculture across the country.
Emefiele spoke at the inauguration of Greenfield Integrated Poultry and Powdered Egg project, Emure-Ile, in Owo Local Government area of Ondo State.
He said that the agriculture sector had the capability to boost the nation’s economy, hence the need for state governments and individuals to embrace it. “The CBN will help to drive economic growth and reduce unemployment in the country. What we have set out to do is to give support to anyone who wants to tap the potential of what God has given to our country.
Emefiele said; “This we hope to do by providing the finance and also create job opportunities for the youth. ”
