The Central Bank of Nigeria (CBN) on Tuesday intervened in the Inter-Bank Foreign Exchange Market to the tune of $364 million in a bid to sustain liquidity in the market.

A breakdown of Tuesday’s foreign exchange intervention indicates that the Retail Secondary Market Intervention Sales (SMIS) received the largest allocation of $264,192,252.95. The CBN also offered the sum of $100,000,000 to authorised dealers in the wholesale window.

Confirming the figures on Tuesday, sources at the bank said the CBN also received requests from authorisedforeign exchangedealers on behalf of their customers, for which results would be released.

According to the sources, the bank remained committed to achieving a convergence of rates at the inter-bank and Bureau-de-Change segments of the market.

Last week, CBN intervened in the wholesale, Small and Medium Enterprises (SMEs) and invisibles windows to the tune of $195 million.

Meanwhile, the CBN, in a bid to improve foreign exchange availability and ameliorate challenges encountered by critical stakeholders, has said that payment for port charges to the Nigerian Ports Authority (NPA) and other agencies by oil marketing companies can now be accommodated by the Bank using Form ‘A’.

A circular endorsed by the Director, Trade and Exchange Department, Wuritka Dauda Gotring directed authorised delears to accept the request for the payments of port charges from oil marketing companies and forward same to the CBN foreign exchange window.