Nigeria’s foreign-exchange market attracted more than $1 billion in the past two weeks as market confidence improves following the central bank’s effo
Nigeria’s foreign-exchange market attracted more than $1 billion in the past two weeks as market confidence improves following the central bank’s efforts to steady the nation’s battered currency, Governor Olayemi Cardoso said.
Foreign portfolio investors “have already begun to supply the much-needed foreign exchange to the economy,” he told senators in a banking committee hearing Friday. In “the past few days, we have had over $1 billion that have come into the market,” he said, adding that this reflects “a solid sign of return to confidence in our economy.”
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