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FX UNIFICATION POLICY
Nigeria’s foreign exchange (FX) unification policy, implemented by the Central Bank of Nigeria (CBN) in June 2023, aimed to simplify the country’s multiple exchange rate system by consolidating it into a single market-driven rate.
Nigeria’s external reserves have increased yet again, this time by $1.88 billion to $34.66 billion as of July 4, 2024, marking a 13-month high.
Rocking his agbada on a Monday, October 23, 2023, at the 29th Nigeria Economic Summit in Abuja, the President of Nigeria, Bola Tinubu, told business leaders and Nigerians that Nigeria’s economy can grow to $1 trillion by 2026.