The Lagos Chamber of Commerce and Industry (LCCI) has urged the CBN to adopt creative financing options for clearing the short to medium-term backlog of foreign exchange.
LCCI noted that the new FX policy of the CBN unbanning the 43 items that were excluded from accessing FX at the official market, is a market-friendly step towards unifying the exchange rates and is expected to curtail inflationary pressures in the short term.
The body also said the policy change was expected to reduce the demand pressure on the parallel market and ensure there is a gradual convergence in FX market rates.
