Emefiele says Nigeria has raked in $10 billion in 6 months from IE window

The Governor of the Central Bank of Nigeria Dr. Godwin Emefiele has stated that the nation has recorded an estimate inflow of about $10 billion dollars in six months through the Investors’ and Exporters’ Forex Window since its launch back in April this year.

He announced this during the just concluded 2017 Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) while receiving the Forbes ‘Best of Africa Award’ in Washington DC.

He stated that the inflow was due to the investors window introduced by the Federal Government which was a welcomed idea from foreign investors and as well as other economic policies which have contributed to positive developments that have restored the confidence of foreign investors.

He also commented on the issue of inflation in Nigeria by stating that the figure for inflation has dropped from 18% to 16% and also expressed his optimism that there would be a continuous drop with the current policies that have been put in place.

With the inflow of foreign exchange, it is expected that this would go a long way in stabilizing the exchange rate and increase the value of the naira. Failure to sustain the current inflow of forex may lead to a further slip in the value of naira.

The CBN Czar also used the medium to express his gratitude to the Nigerian people who has stood with the current administration with the reassurance that the government would continue to strive to achieve maximum economic progress in the country.