In Kubwa: CBN injects $1.47 billion into forex market in one month, to stabilise the Naira

The Central Bank of Nigeria (CBN) injected $1.47bn into the foreign exchange segment of the market as part of its efforts to stabilise the naira in January.

According to figures from the CBN’s January report on its foreign exchange market developments, this was a decrease of 47.4 per cent and 64.0 per cent from the level in the preceding month and corresponding period of 2020.