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Nigeria's Central Bank Short Of Amount Needed To Clear Foreign Exchange Backlog –Fitch

Credit rating agency Fitch has said that the Central Bank of Nigeria (CBN) still lacks the foreign exchange to clear the backlog of demand. It noted that the country's high-interest payment to revenue ratio weighs on its sovereign credit rating. Gaimin Nonyane, director of Middle East and Africa sovereigns with Fitch, in a webinar on Thursday, said foreign exchange shortages in Nigeria would keep pressure on the naira, where there is currently a 30% gap between the official and parallel rat...
Abuja Federal Capital Territory Toby Iles Sidi Ali Gaimin Nonyane Hakama Sidi Ali Bola Tinubu

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