According to the minister, inadequate supply has been the major problem with Nigeria’s foreign exchange market.
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Mr Edun spoke in response to concerns that the Federation Account Allocation Committee disbursement results in significant pressures in the FX market. Last month, the governor of the Central Bank of Nigeria , Olayemi Cardoso, expressed worries over the monthly disbursement of funds by the Federation Account Allocation Committee to the tiers of government, lamenting the allocation is impacting exchange rate stability.
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