Two days after its Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria has announced the arrival of $1.5 billion in foreign exchange into the country.

CBN's Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, stated that the inflows were a result of CBN’s efforts to stabilize the foreign exchange market.

Ali emphasized CBN’s unwavering commitment to maintaining exchange rate stability and ensuring the Naira's appropriate value against other major global currencies, noting that this development aligns with Governor Olayemi Cardoso’s recent statements following the MPC meeting on March 26th, 2024.