Barely three days after the naira weakened against the United States dollar, the Central Bank of Nigeria is set to boost the local unit with the injection of more dollars into the foreign exchange market this week.

The CBN, it was learnt, was planning to increase dollar supply with a view to ensuring liquidity in the interbank market.

This came barely one week after the apex bank promised to increase the sale of dollars to Bureaux de Change operators from $8,000 per week to $10,0000 twice a week.

The CBN has been engaged in aggressive supply of forex into the market as it steps up efforts to save the naira from currency speculators.

The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, on Sunday said the CBN was determined to sustain the provision of liquidity in the foreign exchange market in order to enhance accessibility and affordability for genuine endusers.

The regulator on Friday warned commercial banks and other dealers to desist from sabotaging the apex bank’s efforts aimed at making forex available to endusers.

Okorafor said the CBN had received complaints from customers over frustrations they were meant to go through in getting forex for invisible items such as tuition fee, medicals, personal and basic travel allowances.

The CBN has urged the general public to report to it any bank that fails to meet customers’ needs within 24 hours to 48 hours after due documentation.

It said it was determined to deal with any official or institution found to be sabotaging the operations of forex market in whatever guise.

Source - www.punchng.com/cbn-moves-to-boost-naira-injects-more-dollars/

Lalasticlala. Let's inform people pls

Addiction of injection may lead to complications in a long run to our economy if stopped suddenly.

People who didn't wanna let go of their illegal forex earning are doing anything possible to sabotage cbn's effort.

May beautiful thunder fire them all.

Dollars wey don finish
Dem aboki for naija sef


U have iTunes giftcard for sale?
Visit me profile and Whatsapp me

Keep pumping it in, when una nor see pump again, na were water pass garri

nice

Rubbish.....
Artificial solutions never lasts long... What happened to the recovered looted funds...?...person want big yansh; them give am big yansh now em no fit f*ck. The tale of APC Buhari led government.

Please they shouldnt inject anything. Shey theu were holding onto it

Abeg make una leave us jhoor!!!!!!!!; mtcheew

To

"The CBN has urged the general public to report to it any bank that fails to meet customers’ needs within 24 hours to 48 hours after due documentation."

Mr. CBN Sir. This five five naira appreciation is too small and why not increase the margin to like fifty naira increase so that the Naira will gain more strenght against the dollar and float the currency. Nevertheless, thank you for your effort.

Mr. CBN Sir, have you scrutinize the banks you made mentioned of earlier on?

Okay ooo

how long will this keep on?
This measure is just desperately short termed.

Not like our reserves are even fat sef.

Hmmm

Ok

These people should inject small dollars on someone's life nau.... Hungry dey ooo!

Doctor- emefiele
Patient- Naira
Injection--- Dollar
sickness--lost value
symptom--- recession
care giver--

Okay

D

All this injection injection that they are buzy shuckin. And nothing is geting well.
Am not understanding

Big fat lie

All this one na braggado

Shey them dey announce before them pump before?

The rates jumped almost 10 naira when this increase in weekly allocation to BDC's was announced last week as the aboki's in system got wind of the info that the pumping machine has spoilt.

Trust me, if them go pump dollar tomorrow, aboki don know yesterday.

Some people condemning govt for not doing anything will still condemn this act one way or another,deep down they want things to get worse so they can say we told you!!! Na waooo

Until the price of commodities falls, this has no effect at all.... One bad news is that, they can't continue doing this for a long term, it's never a long term solution...

I guess the CBN has technocrats within it's members of staff...cmon injecting, injecting and injecting won't give us a lasting solution .OK what if our main source of income which is crude oil..what if the price falls. that means definitely. the injection will reduce because of lack of sustainability... it's high time they all sit and have a discuss on a more preferred solution which will be immediate and long lasting... if they are out of idea or #confused like people say, then let them throw a public opinion polls .we have economist. financial analyst and the rest in this country..
well I just want to make common sense

I reserve my coment until this incompetent charlatarn called emiefiele is fired,we can't keep doing same thing over and over and expect changes.

Emefiele..... The worst CBN Gov in history...

He is still there because, PMB hasn't any ideas

on governance or economic management...

k33p pumping

CBN has woken up from its slumber.