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Nigeria to Boost Economy with $20 Billion Investment, Implements Cash-Out Limits

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Nigeria to Boost Economy with $20 Billion Investment, Implements Cash-Out Limits
ECONOMY,INVESTMENT,CASH-OUT LIMITS

Nigeria aims to bolster its economy with a $20 billion annual investment, targeting a 6.3% growth rate. The government also implements several measures, including cash-out limits for PoS terminals, temporary access to the Nigerian Autonomous Foreign Exchange Market (NAFEM) for Bureau de Change (BDC) operators, and zero percent duty on imported CNG and LPG equipment. These measures aim to address economic challenges, combat fraud, and promote a cashless economy.

Nigerians paid N2.23 trillion as ransom in one year between May 2023 and April 2024.invest $20 billion annuallyEdun spoke on Friday during the citizens and stakeholders engagement on the implementation of presidential priorities and ministerial deliverables for the fourth quarter of 2024, in Abuja.

to the Nigerian Autonomous Foreign Exchange Market to purchase $25,000 weekly from December 19 to January 30. CBN also said the personal travel allowance and business travel allowance remain available and can be accessed from their banks to meet travel requirements.limit on point-of-sale terminals to N100,000 per customer.

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Source: NigeriaNewsdesk - 🏆 10. / 63 Read more »