- The CBN has reported a significant inflow of foreign exchange into the country, indicating a potential strengthening of the naira
- The influx of forex signifies improved confidence in Nigeria following recent efforts to attract foreign investors
- In the last few weeks, the naira has been appreciating against the US dollar in both the official and unofficial markets
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Central Bank of Nigeria (CBN) has disclosed that the Nigerian economy witnessed a $1.5 billion foreign exchange inflow into the country two days after the Monetary Policy Committee (MPC) meeting.
