- Global credit rating agency Fitch has said Nigeria’s apex bank does not have what it takes to clear forex backlogs
- The agency also said the revenue ratio in the country is a key weakness in its sovereign credit rating
- It added that the foreign exchange shortage could further heighten the pressure on the Nigerian currency
Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
Fitch, a global credit rating agency, has stated that the Central Bank of Nigeria (CBN) does not have enough foreign exchange (Forex) to clear the country’s demand backlog.
