Tag
FX REFORMS
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has announced that volatility in the foreign exchange (FX) market has declined significantly, falling below 0.5%, as Nigeria’s monetary and fiscal reforms begin to stabilise the macroeconomic environment.
Nigeria’s external reserves have recorded a sustained rebound for the first time in 2025, rising by $364 million between April 30 and May 14, 2025.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has called for deeper economic ties between Nigeria and the Middle East, emphasizing opportunities for collaboration in infrastructure, tourism, and financial sector development.
The Governor of the Central Bank of Nigeria, Yemi Cardoso, has announced a reduction in market volatility, attributing it to the foreign exchange reforms undertaken by the apex bank.
Fitch Ratings has stated that the ongoing foreign exchange (FX) reforms are necessary to boost foreign direct investment (FDI) and foreign portfolio investment (FPI).
The International Monetary Fund (IMF) has again declared their support for the fuel subsidy removal and exchange rate unification, insisting that it will enhance the economic outlook of the country.