CBN: Naira to Appreciate Further Against Dollar

The Nigerian Naira is set to appreciate further against the Dollar this week as the Central Bank of Nigeria (CBN) won't soften its attack on the black market. 

The apex bank has been injecting forex into the market to meet demands of genuine customers. This has crashed the price of dollars.

CBN spokesman, Isaac Okorafor, in a statement said the CBN was committed to ensuring that authorized dealers got sufficient supply to meet the demands of authentic customers. 

He said the CBN has so far kept to its promise to supply enough forex to guarantee liquidity in the market. 

He noted that the bank has since February 2017, supplied over $1 billion to the interbank market. He also maintained that stability has been restored to the market, with individuals now able to easily access forex.