Governor Yemi Cardoso of the Central Bank of Nigeria has disclosed that the foreign exchange market received a boost of over $1 billion in liquidity within the past few days.
Cardoso made this disclosure in a statement on Friday during a presentation on the Senate floor in Abuja.
According to the CBN governor, there has been an upward shift in the FX market as a result of the recent reforms initiated by the apex.
Cardoso assured the Senate that the reforms have generated significant interest from foreign portfolio investors.
- “We have already begun to see shifts in a positive direction. Indeed, we have already begun to see positive results with significant interest from foreign portfolio investors which was a concern that has already begun to supply the much-needed foreign exchange to the economy.
- For example, upward of the last few days. We have had over $1 billion that have come into the market. And this quite frankly is the answer to the question.”
More details later…
Download Nairametrics App for breaking news and market intelligence.
