Nigeria’s economy records $5bn foreign investment inflows Featured

Written by  Apr 15, 2019

The Central Bank of Nigeria (CBN) has disclosed that the Nigerian economy recorded about $5 billion foreign investment inflows post-general elections in February/March 2019.

The governor of the apex bank, Mr. Godwin Emefiele, revealed this on Friday in Washington DC, USA.

The CBN Governor added that the apex bank was committed to ensuring that the Nigerian financial system was not only sound, but able to support the real sector in boosting Nigeria’s growth and development, while continuing to attract foreign investors.

He said: “Although monumental feats have been achieved by the CBN in various aspects of development finance, foreign exchange management, financial inclusion and payments system in the past five years, challenges remain.”

He added, “Since its establishment, the CBN has recorded about $35 billion in autonomous forex inflows through this Window alone. As a result, exchange rate pressures eased considerably across all markets as the rates converged to about N360/$ and the distortive premium almost eliminated.

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