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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
Nigeria’s central bank sold dollars to lenders to stem an erosion of the naira exchange rate, after a selloff induced by US tariff turbulence.
The Abuja-based Central Bank of Nigeria sold $197.71 million to authorized dealers on April 4 to ensure “adequate liquidity,” noting depreciation pressure from President Donald Trump’s announcement of new import tariffs last week, it said in a circular to lenders. “This measured step aligns with the bank’s broader objective of fostering a stable, transparent, and efficient foreign exchange market,” it said.
Nigeria Supplies Dollars to Shield Naira From Tariff Fallout – Bloomberg.com
