MON DEC 09 2024-theGBJournal| Nigeria’s financial landscape has seen significant developments with the Central Bank of Nigeria (CBN) introducing revised guidelines to enhance transparency and governance in the foreign exchange market.
These guidelines emphasize ethical practices, real-time reporting, and regulated interbank trading while mandating compliance from banks, dealers, and BDC operators.
Separately, the naira has appreciated steadily, supported by increased dollar inflows and the launch of the Electronic Foreign Exchange Matching System (EFEMS), which has boosted market confidence by facilitating transparent and efficient FX transactions.
Meanwhile, the Federal Government’s recent $2.2 billion Eurobond issuance aims to finance the 2024 fiscal deficit, fund critical infrastructure projects, and diversify funding sources to strengthen the nation’s economy.
These combined efforts reflect a broader push to stabilize Nigeria’s currency and economic framework.
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