Following the Central Bank of Nigeria, CBN, intervention at the forex market on Monday, the Nigerian naira on Tuesday gained 1.28 per cent to close at 390 against the United States dollar at the parallel market.
The currency also appreciated by 0.02 per cent against the dollar to close at N306.25.
It closed steady against the Pound sterling and Euro at 480, 415 respectively at the black market side.
The Central Bank of Nigeria, on Monday injected over $200 million to meet requests by bank customers and authorised FOREX dealers in its bid to sustain the supply of foreign exchange and ensure liquidity in the market.
The spokesperson of the bank, Isaac Okorafor, has said the fresh release is to meet invisibles such as basic and personal transport allowances, medical bills and school fees.
Invisibles are those items in the export trade that are untouchable, like movement of money and family, including BTAs, medical bills, plant and machinery as well as finished products.
The CBN spokesperson advised customers to report through available platforms any bank refusing to cooperate with the CBN.
