The recent growth of Nigeria’s foreign reserves has come to many as some form of cheery news. In as much as this is a positive development, it is disappointing that this has not helped to stabilise the country’s foreign exchange market, as would be expected. Hardly has any citizen escaped the effect of this negative development in the foreign exchange market. While these steps are laudable, the core issues for a reliable foreign exchange supply need to be investigated meticulously. More work needs to be done, to bring sanity to this all-important foreign exchange market, in the interest of the ordinary Nigerian.

Source: The Guardian October 14, 2024 04:10 UTC