Data: Nigeria injects over 500 million dollars to support the Naira

ChainCatcher news reports that the Central Bank of Nigeria (CBN) injected $543.5 million into the Nigerian foreign exchange market between September 6 and 30 to address currency fluctuations.

The bank attributed the volatility to strong import demand and seasonal factors. Nigeria is facing a foreign exchange shortage, and the government has taken various measures to address it, including restricting foreign currency withdrawals and considering selling oil in local currency.