CBN defends Naira’s value with $11.24bn

The Central Bank of Nigeria(CBN) in the first seven months of 2022, defended the value of the naira by selling $11.24 billion forex to Nigerians and exporters.

This was revealed in the banking regulator’s monthly economic reports on foreign exchange market developments.

The CBN has been intervening in the foreign exchange market to stabilise the economy and respond to a growing demand in the market.