Nigeria’s central bank injects $195m into forex market

Nigeria’s central bank said Tuesday it had injected $195 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.

The bank said in a statement it had released $100 million earmarked for the wholesale market, $50 million for small businesses and individuals, and $45 million for certain dollar expenses such as school fees and medical bills.

The bank will continue to intervene in the foreign exchange market to sustain liquidity, the statement said.