CBN allocates N1.73tn for food imports in six months

The Central Bank of Nigeria released $547.7m (N823.19bn at the official exchange rate of N1,503.3/$1, as of June 30, 2024) to Nigerians for the importation of food items in the second quarter of 2024. The amount is a reduction of $142.48m or 20.6 per cent from $689.88m recorded in the first three months of 2024