Nigeria lost huge forex trying to defend naira – FG

According to the government, it took the right step by instituting forex reforms and freeing forex previously used to defend the naira.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who made this known while speaking at the unveiling of the 2023 Nigerian Banking Sector Report titled: “Getting Nigeria to Work Again!” in Lagos, said the implementation of the ‘willing buyer, willing seller’ model has preserved forex for the economy.

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