The Nation Newspaper CBN takes action to double remittance flows, boost Naira value
This initiative aims to increase the availability of foreign exchange, promote financial inclusion, and stabilize the naira’s exchange rate.
The CBN governor, Olayemi Cardoso has set an ambitious goal of “doubling remittance flows into Nigeria within a year.” The CBN governor had earlier emphasised the apex bank’s commitment to “removing any bottlenecks hindering flows through formal channels permanently.” The task force was formed following an “executive learning session with IMTOs” during the World Bank/IMF Spring Meetings held in April 2024.
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