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Can Nigeria sustain FX inflows?

The Central Bank of Nigeria says the foreign exchange inflows recorded in the first quarter of this year into Nigeria is about 136 per cent of the total inflows recorded in 2023. Meanwhile, Bureau de Change Operators in the country have rejected the CBN new guidelines which stipulates the minimum capital base for Tier-1 BDCs is 2 billion naira while that of Tier-2 BDCs set at 500 million naira. They say the deadline given is short and the move is against global best practice. Johnson Chukwu, CEO of Cowry Asset Management joins CNBC Africa for more.
Fri, 24 May 2024 12:19:42 GMT

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