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MR. YEMI CARDOSO
The announcement of N500bn capital requirement for banks with international authorization, N200bn for National banks, and N50bn each for regional and merchant banks, no–less left a rather dry patch on many banker’s throats
The Governor of the CBN has stated that recent reforms of the apex bank are beginning to yield positive results concerning liquidity in the foreign exchange market.
Mr. Yemi Cardoso has stated that the naira is overvalued promising that in 2024, the bank will work towards real price discovery in the foreign exchange market.
Mr. Yemi Cardoso has outlined how the CBN plans to stabilize the foreign exchange market in the short term.
Mr. Yemi Cardoso, the acting governor of the Central Bank of Nigeria, faces an impossible challenge in trying to tame the strong dollar effect on the naira in the face of the nation's poor liquidity.