Nigeria’s finance minister Adebayo Olawale Edun said up to $6.8 billion of overdue forward payments in the foreign exchange market need to be addressed before the naira stabilises. The currency of Africa’s largest economy extended a months-long slide and hurtled toward the 1000-per-dollar mark in street trading on Thursday, as the central bank held back from supplying dollars to a panic-stricken market.
The issue we have now is that the market is not liquid enough,” Edun said in an interview in New York. “We are committed to encouraging liquidity based on reforms that have been made at the moment, on the fiscal side and the monetary side. And together with the restoration of trust and confidence we think the FX flows will return.” Nigeria’s central bank on Thursday postponed a rate-setting meeting scheduled for September 25-26.
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Nigeria: Tinubu Woos ExxonMobil Chief, Says Nigeria Is Ready for BusinessPresident Bola Tinubu met with a delegation of global energy giant ExxonMobil, in New York, where he said, "Nigeria has never been more ready for business than it is now."
Läs mer »
PwC Nigeria Tech Talent Bootcamp IDs Leaked - IT News Africa | Business Technology, Telecoms and Startup NewsThe latest Cybernews research team investigation revealed that participants in PricewaterhouseCoopers (PwC) Nigeria Tech Talent Bootcamp..
Läs mer »